____ is a simplified description of reality, designed to yield hypothesis about economic behaviour that can be tested.

Related MCQs

• Which of the following is the combination of economic theory, mathematical economics and economic statistics
• Abstraction from reality is made based on :
• The rejecting of a true hypothesis is called
• The accepting of a false hypothesis is called
• ____ models are mathematical models designed to be used with data.
• _______ function was designed by J M Keynes to show the relationship between real disposable income and consumer spending.
• Which of the following discipline express the economic theory in mathematical form
• confirmation or refutation of economic theories on the basis of sample evidence is based on the branch of statistical theory called
• Economic theory makes statements that are mostly
• In input-output analysis, ___ represents in monetary terms or quantitative terms all the transactions of the economic system.