Q. Formulation of an economic theory involves:
A. Statement of various assumptions or postulates
B. Logical deductions from the assumptions made
C. Testing the hypothesis against empirical evidence
D. All of the above
Answer: All of the above
Q. Formulation of an economic theory involves:
A. Statement of various assumptions or postulates
B. Logical deductions from the assumptions made
C. Testing the hypothesis against empirical evidence
D. All of the above
Answer: All of the above