It is difficult to empirically test alternative macroeconomic models against one another because
A. macroeconomic models are always expressed in scientific terms.
B. macroeconomic models cannot be expressed in mathematical terms.
C. macroeconomic models do not predict the same outcomes from policies.
D. macroeconomic models differ in ways that are hard to standardize for.
Answer: D
You might also like to view...
Refer to Figure 14-6 Use the decision tree to determine whether Pizza Hut should deter Domino's from entering the market for pasta salad. Assume that each firm must earn a 25% return on investment to break even. Explain Pizza Hut's decision process
What will be an ideal response?
When a perfectly competitive firm experiences positive economic profits
A) the high barriers to entry prevent further competition. B) existing firms exit the industry. C) additional firms enter the industry. D) firms have no incentive to exit or enter the industry.