Which of the Following Is a Correct Statement

question 174

Multiple Choice

Which of the following is a correct statement?

• A) Economic concepts or laws that are valid during depression are necessarily valid during prosperity.
• B) Although they are generalizations,economic laws are useful because they allow us to predict and therefore influence or adjust to events.
• C) Economics is as scientific as are physics and chemistry because economic laws are as quantitatively precise as the laws of physics or chemistry.
• D) Because economics is concerned with questions of "ought," it is a branch of applied ethics and not scientific.

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Definitions:

Case Law

The body of past judicial decisions from courts that guide future rulings on similar legal questions or disputes.

Statutory Law

Law enacted by a legislative body, such as Congress or a state legislature, as opposed to common law or constitutional law.

Supreme Law

Refers to the highest form of law in a country, typically a constitution, that supersedes all other laws and regulations.

Critical Thinking

The process of actively analyzing, synthesizing, and evaluating information gathered from observation, experience, or communication.