What is the best test of an economic theory?
A)its eloquence
B)the plausibility of its assumptions
C)its ability to predict real-world events, patterns, and changes
D)whether it produces implications that are favored by the researcher

Question

Quizplus · Accepted Answer

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

What Is the Best Test of an Economic Theory