Which of the following is not a part of the scientific method in economics?
A)Normative statements
B)Comparing predictions to evidence
C)Formulating a hypothesis
D)A hypothesis
E)Behavioral assumptions

Question

Quizplus · Accepted Answer

Normative statements are not a part of the scientific method in economics. The scientific method in economics involves formulating a hypothesis, making behavioral assumptions, testing the hypothesis, comparing predictions to evidence, and revising the hypothesis if necessary. Normative statements, on the other hand, involve value judgments and opinions about how things ought to be, which is not part of the objective, evidence-based approach of the scientific method.

Which of the Following Is Not a Part of the Scientific