To test their theories, economists usually have to

Name: To test their theories, economists usually have to
Brand: Quizplus
Rating: 4.8 (61 reviews)

Question

Quizplus · Accepted Answer

Economists often use historical data to test their theories and see if they are accurate in predicting past events. However, it can be difficult to set up controlled laboratory experiments in economics, and models may not always have a proven record of success. Additionally, while some people may not always behave rationally, this is not a necessary component of testing economic theories.

To Test Their Theories, Economists Usually Have to