Instead of conducting laboratory experiments to generate data to test their theories, economists often
A)rely upon hypothetical data that were previously concocted by other economists.
B)argue that data is impossible to collect in economics.
C)rely on natural experiments offered by history.
D)assume that data would support their theories.

Question

Quizplus · Accepted Answer

Economists often rely on natural experiments offered by history because controlled experiments are difficult to conduct in economics due to the complexity and scale of economic systems. Natural experiments, where external events or policy changes create conditions that closely resemble a controlled experiment, provide valuable real-world data for testing theories.

Instead of Conducting Laboratory Experiments to Generate Data to Test