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Hypothesis testing in economics: Uses the ceteris paribus assumption to simplify the analysis Includes using empirical methods to support theory Is limited by the ceteris

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Hypothesis testing in economics: Uses the ceteris paribus assumption to simplify the analysis Includes using empirical methods to support theory Is limited by the ceteris paribus assumption since other confounding effects might be afoot Relies on the theory to guide empirical observations and tests . Must not allow correlation ti be confused with causality

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