Economic theory
A)expresses normative values
B)invents imaginative and interesting stories
C)predicts the behavior of a specific economic decision maker after an economic change
D)predicts the average behavior of a group of similar economic decision makers after an economic change
E)uses only perfect and complete information

Question

Quizplus · Accepted Answer

Economic theory predicts the average behavior of a group of similar economic decision makers after an economic change. It does not express normative values, invent imaginative and interesting stories or use only perfect and complete information. It aims to provide insight into how people and markets behave in certain situations, and analyzing the decisions of groups can help achieve that goal.

Economic Theory