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:

Rules

Established guidelines or principles governing behavior or conducting activities within specific contexts.

Different Interests

Diverse or varying priorities and desires among individuals or groups in a negotiation or decision-making process .

Surface

The outermost layer or boundary of an object or the superficial aspect of something as opposed to its essence.

Benefit

An advantage or profit gained from something, often used in the context of employment, insurance, or social welfare.