um squared reald 11. Which of the fuliowing statements is FALSE about economic t
ID: 1130699 • Letter: U
Question
um squared reald 11. Which of the fuliowing statements is FALSE about economic theory? Economic theory makes statement or hypothesis that are mostly qualitative in nature. a. b. Economic theory postulates a ccosomic theory specifies the list of explanstory variables on the right side of an equmion theory can provide a numarical measure of the relationship betwnen C All staements ane TRUE 12. Which of the Sollowing statements is FALSE aboet esonomic theory? a. Economik theory speciflies the list of espianatory vaciables on the right side of Economic theory postalates whother the underlying relationship is rositive or e. Economk theory makes statement or hypodvesis that are motly qualitative in Econemic theory can provide a numerical mesure of the reletiondhip bet the underlying variables. c All statements are TRUE 13. Which of the Sollowing statesents is TRUE about a Econonetric theory specifies the list of explanatory variables on the rign side theory uses dara collected by statiscicians to teit the empirical heory describes an economic relationship in mathematical fom b. Econometris validity of economic theory and cannot explain the undarlying relationship is estimated refination of the relationship consitrocted by economic theory d Ecosometric theory is primarily coscemod with empirical verification o e. All statements are TRUE t b and d statements are TRUEExplanation / Answer
11) The correct answer is option a) because economic theory also makes hypothesis that are qualitative in nature for example the relationship between quantity demanded and price.
12) Option c) is False because economic theory also makes hypothesis that are qualitative in nature for example the relationship between quantity demanded and price.
13) The correct option is e).
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