The statement that a country's rate of GDP growth is influenced by individuals' saving behaviour is an example of a(n)
A)economic law.
B)theory.
C)prediction.
D)variable.
E)normative statement.

Question

Quizplus · Accepted Answer

This statement is an example of a theory, which is a well-substantiated explanation of some aspect of the natural world or society that is based on empirical evidence and has been validated through repeated experiments and observations. It is not an economic law, prediction, variable, or normative statement.

The Statement That a Country's Rate of GDP Growth Is