To say that economists use the scientific method means that they are using. OA an ongoing process to develop models of the world and then test and evaluate those models. OB. a method to develop recommendations for policy makers to run economies. OC. a process to develop models that are intended to exactly represent all the details of a system. OD. a method to determine the best course of action for fiscal and monetary policy. How do economists distinguish between models that work and those that don't? OA They have their models reviewed by other economists. OB. They program their models into computers to test via simulation. Oc. They test their models against real-world data. OD. They publish their model results in academic journals.

menu   messageQ&A notifications account_circle                                                                                     Business EconomicsPrinciples of Macroeconomics (MindTap Course List)8th Edition   Describe three ways a government policymaker can try to raise the growth in living standards in a society. Are there any drawbacks to these policies?     Give your brain a boost. Try 5 free Q&As with our subject matter experts now.arrow_forward   Findarrow_forward Principles of Macroeconomics (Mind... 8th Edition N. Gregory Mankiw Publisher: Cengage Learning ISBN: 9781305971509 Chapter 12.3, Problem 3QQ Textbook Problem 343 views keyboard_arrow_up Describe three ways a government policymaker can try to raise the growth in living standards in a society. Are there any drawbacks to these policies? To determine keyboard_arrow_up Ways of increasing…

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Which of the following statements is most correct? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a Microeconomics studies people and macroeconomics studies firms. b Microeconomics studies individual decisions and macroeconomics studies aggregate behavior. Microeconomics studies the gasoline market and macroeconomics studies the interest rate. d. Microeconomics studies personal finances and macroeconomics studies banking.