What is the best test of an economic theory?
A)the accuracy of the assumptions behind the theory
B)the ability of the theory to predict real-world events
C)the implications of the theory for current public policy
D)how much mathematical detail is behind the theory

Question

Quizplus · Accepted Answer

The best test of an economic theory is its ability to predict real-world events, as this demonstrates its practical applicability and validity.

What Is the Best Test of an Economic Theory