Business, 06.10.2019 10:30 bigsmokedagangsta

Which of the following statements is true of the scientific method?
a)the scientific method used by economists and scientists is independent of empiricism.
b)the scientific method can develop accurate models even when data are unavailable.
c)the scientific method may not reveal a "true" model of the world.
d)the scientific method does not require the models to be tested with data.

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Answer from: Joshuafranklindude

The answer is: C) The scientific method may not reveal a "true" model of the world.

Explanation:

When economists and scientists use the scientific method they are trying to develop models of the world and then test them with data. Past data is used to try to predict future economic behavior. That doesn´t mean that those models are 100% accurate and true, but rather that they might (or not) apply to specific situations.

Microeconomics relies on the use of the scientific method and econometrics, while the scientific method is not applicable in macroeconomics.

Answer from: Quest

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi

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$527.7.if the following was the question $527.7 is the answer.students who are trying to raise funds have an agreement with a local pizza chain. the chain has agreed to sell them pizzas at a discount, which the students can then resell to families in the local community for a profit. it is expected that of the 500 families in the community, at most 70% will buy pizza. based on a survey of their personal preferences, the students believe that they should order no more than 120 cheese pizzas, no more than 150 pepperoni pizzas, and no more than 100 vegetarian pizzas. they also want to make sure that at least 20% of the total pizzas are cheese and at least 50% of the pizzas are pepperoni. they make a profit of $1.45, $1.75, and $1.98, respectively, for each cheese, pepperoni, and vegetarian pizza they resell. how many pizzas of each type should they buy?

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Which of the following statements is true of the scientific method?
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