Economists and others use economic theory
A)only to analyze situations in which money changes hands.
B)as a partial basis for public policy recommendations.
C)to confuse their enemies.
D)instead of using value judgments concerning important policy issues.

Question

Quizplus · Accepted Answer

Economic theory is used as a partial basis for public policy recommendations. Economic analysis can provide insights into the costs and benefits of different policy options and help policymakers make informed decisions. However, economic theory cannot provide all the information needed for policy decisions, and value judgments and other factors must also be considered.

Economists and Others Use Economic Theory