The validity of an economic theory is judged by its power to:
A) explain an economic phenomenon
B) predict the course of an economic phenomenon
C) prove or disprove a hypothesis
D) reveal the economic laws
Correct Answer:
Verified
Q1: A function refers to :
A)the demand for
Q3: The subject matter of economics is the
Q4: To whom do you attribute the 'growth'
Q5: The first economist who coined the terms
Q6: Microeconomics deals with:
A)the theory of factor pricing
B)the
Q7: Prof. Robbin's definition of Economics is:
A)scarcity definition
B)growth
Q8: A theory is:
A)an assumption
B)a validated hypothesis
C)an 'if
Q9: The book 'Principles of Economics' was written
Q10: Average revenue is :
A)tr - tc
B)tr /
Q11: A hypothesis is a :
A)statement of facts
B)statement
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