Which of the Following Is True

question 54

Multiple Choice

Which of the following is true?

• A) Economists formulate theory and then sometimes try to verify the theory with real-world observations.
• B) Real-world observations are used to formulate economic theory, but this is of little use to policymakers.
• C) Once an economic theory is developed, it is rarely tested against real-world observations.
• D) When a policymaker has an idea about how to advance economic growth, she will ask an economist to formulate a theory, and then this will be compared to real-world observations.
• E) Real-world observations motivate economists to formulate theories about how economic growth evolves, and these theories are then used and reevaluated as new data become available.

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Definitions:

Purpose Clause

A segment within a legal document that specifies the intentions or objectives that the parties aim to achieve with the contract or agreement.

Articles Of Organization

The document filed with a state government to legally document the creation of a limited liability company (LLC).

Ultra Vires Doctrine

A principle stating that acts performed beyond the powers or authority granted by law or under a corporate charter are void or voidable.

Authorized Conduct

Actions or behaviors that are officially approved or sanctioned by an authoritative entity.