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.
1
Expert's answer
2019-10-22T09:21:20-0400
C. Make a value judgement about the merits of the hypothesis
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