Choose the Statement That Best Characterizes an Economic Theory

question 107

Multiple Choice

Choose the statement that best characterizes an economic theory.An economic theory

• A)is only useful if its underlying assumptions are realistic.
• B)will be useful as long as it is logically consistent.
• C)must be judged on its ability to explain and predict real-world phenomena.
• D)will predict more accurately if it contains a greater number of mathematical equations.
• E)will be useful only if all human behaviour is rational.

---

Definitions:

American Experience

Refers to the collective events, cultures, and social transformations that characterize the history of the United States.

Feminists

Individuals who advocate for gender equality and women's rights, focusing on issues such as political, economic, personal, and social equality of sexes.

1970s

The decade spanning from 1970 to 1979, characterized by significant political, cultural, and technological changes worldwide.

Nixon Administration

The Nixon Administration denotes the executive branch of the U.S. government led by President Richard Nixon from 1969 to 1974, noted for significant events such as the Vietnam War's end, the Watergate scandal, and diplomatic relations with China.