Economists regard events from the past as
A)irrelevant,since history is unlikely to repeat itself.
B)of limited interest,since those events seldom provide any useful economic data.
C)interesting but not particularly valuable,since those events cannot be used to evaluate present-day economic theories.
D)interesting and valuable,since those events are capable of helping us to understand the past,the present,and the future.

Question

Quizplus · Accepted Answer

Economists consider events from the past as interesting and valuable because they can help us understand the past, present, and future. Past events provide a basis for evaluating present-day economic theories and making predictions about future economic outcomes. While history may not repeat itself exactly, there are often similarities between past events and present situations that can be useful for analysis. Therefore, events from the past hold significant value for economists.

Economists Regard Events from the Past as