Multiple Choice
In judging the value of a theory,the most important criteria is:
A) how realistic or valid the assumptions of the theory are as compared to real world circumstances.
B) how well the theory predicts that which it is designed to predict.
C) how well the theory builds upon the theorists' experiences.
D) how simple the theory is for the average people to understand.
Correct Answer:
Verified
Correct Answer:
Verified
Q11: Which of the following is generally considered
Q12: Which of the following is an assumption
Q13: Consider the production possibility frontier of an
Q14: Do you think that the behavior of
Q15: If a production possibility frontier is drawn
Q17: Value judgments:<br>A)always produce predictable results.<br>B)are subjective opinions
Q18: The opportunity cost of a good is
Q19: The explicit cost of production equals:<br>A)opportunity cost
Q20: If the nominal price of apples has
Q21: Positive economics differs from normative economics in