The idea that the economy operates like a complicated, predictable machine is an important aspect of:
A) attrition theory.
B) the theory of strategic interaction.
C) game theory.
D) time inconsistency theory.
E) optimal control theory.

Question

Quizplus · Accepted Answer

The idea that the economy operates like a complicated, predictable machine is a central concept in optimal control theory, which seeks to identify the optimal policy responses to changes in economic conditions in order to achieve certain objectives.

The Idea That the Economy Operates Like a Complicated, Predictable