Question

6. Which is the best statement about the way economists study the aboriginal economy?

a.They study the past, but do not try to predict the future.

b.They use a probabilistic approach based on correlations between economic events.

c.They devise theories, collect data, and then analyze the data to test the theories.

d.They use controlled experiments much the same way a biologist or physicist does.

7. What is a common thread between aboriginal economics and other sciences such as physics?

a.Experiments are most often conducted in a lab.

b.Real-world observations often lead to theories.

c.A Ph.D. is required to truly understand any science.

d.Both deal primarily with abstract concepts.

8. Why is the use of theory and observation more difficult in aboriginal economics than in sciences such as physics?

a.due to the difficulty in evaluating an aboriginal economic experiment

b.due to the difficulty in devising an aboriginal economic experiment

c.due to the difficulty in actually performing an experiment in an aboriginal economic system

d.due to the difficulty in collecting sufficient data

9. Because it is difficult for aboriginal economists to use experiments to generate data, what must they generally do?

a.do without aboriginal data

b.use whatever aboriginal data the world gives them

c.select a committee of aboriginal economists to make up data for all aboriginal economists to use

d.use hypothetical, computer-generated aboriginal data

10. When studying the effects of public policy changes, what have aboriginal economists often observed?

a.There is a difference between the long run and short run.

b.Unemployment and inflation are directly related in the short run.

c.With stock prices, what goes up must come down.

d.If the policy is well-designed, it will always be effective.

11. Why do aboriginal economists use models?

a.to learn how the aboriginal economy works

b.to make their profession appear more precise

c.to make economics accessible to the public

d.to make sure that all of the details of the economy are included in their analysis

12. Which is the best statement about the roles of aboriginal economists?

a.Aboriginal economists are best viewed as policymakers.

b.Aboriginal economists are best viewed as scientists.

c.In trying to explain the world, aboriginal economists are policymakers; in trying to improve the world, they are scientists.

d.In trying to explain the world, aboriginal economists are scientists; in trying to improve the world, they are policymakers.

13. For aboriginal economists, what are the two types of statements about the world?

a.assumptions and theories

b.true statements and false statements

c.specific statements and general statements

d.positive statements and normative statements

14. Which of the following is an example of a positive statement?

a.Prices in reserve rise when the government provides too much welfare.

b.If welfare payments increase, the world will be a better place.

c.Inflation is more harmful to the aboriginal economy than unemployment.

d.The benefits to the aboriginal economy of improved equity are greater than the costs of reduced efficiency.

15. What does a normative statement regarding aboriginal economies describe?

a.how the aboriginal world was in the past

b.how the aboriginal world is

c.how the aboriginal world will be in the future

d.how the aboriginal world ought to be

Answer 1

6):-(c) is right option Economists devise theories, collect data, and then analyze the data to test the theories.

Because they devise theories, collect data, and then analyze the data to test the theories are statement best describes the way economists study the economy.

7) :- Bis right option,A common thread between economics and other sciences such as physics is that real-world observations often lead to theories.

use whatever data the world gives them because it is difficult for economists to use experiment to generate data they general use what data world gives them.

8) :--c is right option, due to the difficulty in actually performing an experiment in an aboriginal economic system the use of theory and observation more difficult in aboriginal economics than in sciences such as physics.

performing an experiment in an economic system is more difficult

9) :--B is right option, Because it is difficult for economists to use experiments to generate data, they generally must use whatever data the world gives them.

Because it is problematic for economist to use experiment to data generate. They generally use data what world gives them.

Experiment is also long , time consuming and expensive