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)to replace value judgments about important policy issues.

Question

Quizplus · Accepted Answer

Economic theory is used as a partial basis for public policy recommendations, as it helps to provide a framework for understanding the potential impacts of different policies on the economy. However, economic theory is not used to replace value judgments about important policy issues, as these ultimately involve subjective and ethical considerations beyond purely economic analysis.

Economists and Others Use Economic Theory