Question #96985
Which of the following is not a step that economists use in developing a useful economic​ model?
A.
Use economic data to test the hypothesis.
B.
Decide on the assumptions to be used in developing the model.
C.
Make a value judgement about the merits of the hypothesis.
D.
Formulate a testable hypothesis.
E.
Revise the model if it does not explain the data well.
A.
Use economic data to test the hypothesis.
B.
Decide on the assumptions to be used in developing the model.
C.
Make a value judgement about the merits of the hypothesis.
D.
Formulate a testable hypothesis.
E.
Revise the model if it does not explain the data well.
Expert's answer
C. Make a value judgement about the merits of the hypothesis
