The test of a theory is whether:
A) its assumptions are realistic.
B) it predicts the outcomes well.
C) it explains the observed data perfectly.
D) it incorporates every relevant factor bearing on the analysis.
Correct Answer:
Verified
Q3: What does the consumer price index measure?
A)The
Q4: Which of the following best describes the
Q5: Economic theory:
A)can determine which public policy is
Q6: If the nominal price of apples has
Q7: Which of the following steps in evaluating
Q9: Positive economic analysis utilizes:
A)value judgments of highly
Q10: Which of the following is a positive
Q11: Which of the following economic decisions is
Q12: Which of the following is an example
Q13: Positive economics differs from normative economics in
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