Question

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.

Answer 1

C. Make a value judgement about the merits of the hypothesis