The scientific method is useful
a. only in fields of science such as chemistry and physics
b. for testing the validity of theoretical predictions
c. for testing the validity of a model's assumptions
d. when no economic variables can be assumed to be constant
e. only if a theory has been proven to be true
B
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Suppose we are considering the relationship between two variables y and x. y is measured on the y-axis and x is measured on the x-axis, and the relationship between then is a straight line. Suppose that the slope of the line is greater than 1
This slope means that A) a change in x is associated with a bigger change in y. B) a change in x is associated with a smaller change in y. C) a change in x is associated with no change in y. D) a change in x is associated with an equal change in y.
C = a + bY is a form of the consumption function where a is
a. the consumption function, b is the marginal propensity to consume, and Y is national income b. the marginal propensity to consume, b is the consumption function, and Y is national income c. the marginal propensity to consume, b is autonomous consumption spending, and Y is national income d. autonomous consumption spending, b is the marginal propensity to consume, and Y is national income e. autonomous consumption spending, b is the consumption function, and Y is consumption spending