On What Basis Is the Best Test of an Economic

question 20

Multiple Choice

On what basis is the best test of an economic theory?

• A) on the accuracy of its assumptions
• B) on the rigour of its mathematical formulation
• C) on the ability of it to explain and predict
• D) on the level of real-world detail it captures

---

Definitions:

Large-Scale Slavery

The widespread and institutionalized practice of owning and exploiting individuals as property, forcing them to work without pay.

Socio-Political Development

The process of change and evolution in society and politics, including improvements in political systems, social structures, and public policies.

South

A region in the United States characterized by its unique cultural, historical, and social aspects, often referring to the states that were part of the Confederacy during the Civil War.

Witchcraft Crisis

A period, particularly during the Salem witch trials in colonial Massachusetts, characterized by hysteria and the persecution of individuals accused of witchcraft.