--%>
Assignment Help - homework help

Facts serve to sort out good and bad hypotheses

Explain the statement: “Facts serve to sort out good and bad hypotheses.”?

E

Expert

Verified

To test a hypothesis, economists must subject it to systematic and repeated comparison with relevant facts. If real-world data confirm the hypothesis repeatedly, we have a good theory, otherwise it must be discarded and a new hypothesis developed.

   Related Questions in Business Economics

  • Q : Decentralized a virtue of capitalism

    The idea which a virtue of capitalism is decentralized its decision making emerged while: (1) social philosophers looked for alternatives to feudal kings like economic regulators. (2) Russian imperialism fostered anti-communist sentiment after World W

    		•
  • Q : Increase in spending for space research

    Use the circular flow model to confirm this assertion for $50 million increase in spending for space research?

    		•
  • Q : Explain how Entrepreneurs are

    Explain how Entrepreneurs are risk-takers?

    		•
  • Q : Introduction of the term Risk factor

    Give a brief introduction of the term Risk factor?

    		•
  • Q : Increase in the American dollar price

    “An increase in the American dollar price of the South Korean won implies that the South Korean won has depreciated in value.”  Explain.

    		•
  • Q : Best society according to Utilitarianism

    Utilitarianism proposes such that the finest society is one which gives the: (w) fundamental goods to meet people’s requirements. (x) greatest happiness for the maximum number of people. (y) exact measurement of utility and disutility. (d) highe

    		•
  • Q : Characteristics of Perfectly

    Perfect competition is characterized by all of the following except w) heavy advertising by individual sellers. x) homogeneous products. y) sellers are price takers. z) a horizontal demand curve for individual sellers.

    Q : Freely Floating Currency Question: For

    Question: For a freely floating currency, currency i.____________________ occurs when the market value of a country's currency rises relative to the value of another country's currency, while currency ii.__________

    		•
  • Q : Summary of what can cause a decrease in

    Illustrate a summary of what can cause a decrease in demand?

    		•
  • Q : Need of the Economic Efficiency

    Economic efficiency for society needs which the: (i) opportunity costs of all goods be at their lowest possible values. (ii) maximum probable benefits are acquired for given costs. (iii) greatest possible net benefits are squeezed through available re

    		•