Choose the Statement That Best Characterizes an Economic Theory

question 144

Multiple Choice

Choose the statement that best characterizes an economic theory.A valid theory

• A)allows one to deduce a normative statement.
• B)appeals to the law of large numbers.
• C)generates a hypothesis that can predict future events.
• D)extrapolates from the past behaviour of a variable to predict its future course.
• E)allows one to prove irrefutably one's hypothesis.

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Definitions:

Centralised Communication

Pertains to a communication structure where all decisions and messages flow through a central point or individual, typically found in hierarchical organizations.

Co-ordination Loss

The inefficiencies that arise in group tasks due to the poor integration of efforts, resources, or actions among team members.

Highly Centralised

Pertaining to a system or organization where decision-making is kept at a single central point, often leading to a concentration of power.

Hub Person

An individual who acts as a central point of information and communication within a network.