5 Testing economic theory is not an easy task. When several economic variables change simultaneously, it is
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5 Testing economic theory is not an easy task. When several economic variables change simultaneously, it is often difficult to determine the relative importance of each. The direction of economic causation is sometimes difficult to ascertain. Economists consult economic theory as a guide and use statistical techniques as tools in attempting to improve our knowledge of positive economics.
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Related Book For
Essentials Of Economics
ISBN: 396414
2nd Edition
Authors: James D Gwartney; Richard Stroup; J R Clark
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