Facts serve to sort out good and bad hypotheses
Explain the statement: “Facts serve to sort out good and bad hypotheses.”?
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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.
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Question: Describe the present economic crisis situation in Europe. Why has it been so difficult for the Europeans to find a solution to this problem? Comment on what implications the crisis may have for the rest of the world i
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