This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If a model fits reality but doesn't generate testable predictions, it is of little value to ... (Read 74 times)

bcretired

  • Hero Member
  • *****
  • Posts: 525
on: Jul 1, 2018
If a model fits reality but doesn't generate testable predictions, it is of little value to economists.
 
  Indicate whether the statement is true or false

Question 2

Normative analysis offers decision makers the most valuable information when choosing among alternatives.
 
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

smrtceo

  • Sr. Member
  • ****
  • Posts: 344
Reply #1 on: Jul 1, 2018
Answer to Question 1

True
If the model doesn't deliver testable predictions it cannot be tested against competing models.

Answer to Question 2

False. Normative analysis states subjective goals but not how those goals can be achieved. To choose among alternatives decision maker uses positive analysis.


bcretired

  • Hero Member
  • *****
  • Posts: 525
Reply #2 on: Jul 1, 2018
Correct answers!


smrtceo

  • Sr. Member
  • ****
  • Posts: 344
Reply #3 on: Jul 1, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

Vaccines prevent between 2.5 and 4 million deaths every year.

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Did you know?

The immune system needs 9.5 hours of sleep in total darkness to recharge completely.

Did you know?

By definition, when a medication is administered intravenously, its bioavailability is 100%.

Model organisms used to study the genetics of development Model organisms used to study the genetics of development
A model for synthetic lethality A model for synthetic lethality
The human integration pyramid care model The human integration pyramid care model
Model of a longitudinal study in which 983 students were surveyed in 1984 and then again in 1985, 19 Model of a longitudinal study in which 983 students were surveyed in 1984 and then again in 1985, 19
A typical engine oil cooler. Engine coolant flows through the cooler adjuster that fits between the ... A typical engine oil cooler. Engine coolant flows through the cooler adjuster that fits between the ...
IPCC Temperature Increase Predictions Relative to 1986-2005 IPCC Temperature Increase Predictions Relative to 1986-2005
Video: Mendel's Principles of Inheritance (Father of Genetics)

For a complete list of videos, visit our video library