Economics · Methods of Economic Study
In relation to methods of economic study, which of the following statements is INCORRECT?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The deductive method is also called the a priori method, abstract method, and analytical method.
- 2The deductive method is static analysis, while the inductive method is dynamic.
- 3Modern economists follow the deductive method exclusively.✓
- 4The inductive method is also known as the historical method or statistical method.
Correct answer
Modern economists follow the deductive method exclusively.
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