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Questions and Answers
Which of the following fields is NOT typically characterized by the application of applied economics?
Which of the following fields is NOT typically characterized by the application of applied economics?
- Labour economics
- Financial economics
- Agricultural economics
- Macroeconomics (correct)
What is the purpose of applied economics from the perspective of economic development?
What is the purpose of applied economics from the perspective of economic development?
- To reduce the quality of business practices
- To increase the level of abstraction in economic theory
- To discourage national policy making
- To enhance the quality of business practices and national policy making (correct)
Which of the following is NOT an approach used in applied economics?
Which of the following is NOT an approach used in applied economics?
- Input-output analysis or simulations
- Empirical estimation using econometrics
- Historical analogy
- Philosophical analysis (correct)
What does Roger Backhouse and Jeff Biddle argue regarding the concept of applied economics?
What does Roger Backhouse and Jeff Biddle argue regarding the concept of applied economics?
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What is indicative of the ambiguous nature of the concept of applied economics?
What is indicative of the ambiguous nature of the concept of applied economics?
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