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:

Notre-Dame

A medieval Catholic cathedral on the Île de la Cité in the 4th arrondissement of Paris, France, known for its French Gothic architecture.

Naumburg

A city in Germany, famous for its well-preserved medieval architecture and the Naumburg Master’s sculptures in the cathedral.

Ekkehard and Uta

Statues representing a noble couple from the medieval period, famously located in the Naumburg Cathedral in Germany, renowned for their realistic portrayal.

S-shaped Curve

A graphical representation of growth that starts slowly, increases rapidly, then slows down again, often used in population dynamics and product life cycles.