For economists,historical episodes
A)are not worthy of study because they offer few insights into current economic events and problems.
B)are not worthy of study because laboratory experiments provide more reliable data.
C)are worthy of study because economists rely entirely on observation,rather than on theory.
D)are worthy of study because they serve as valuable substitutes for laboratory experiments.

Question

Quizplus · Accepted Answer

Historical episodes are valuable substitutes for laboratory experiments in economics because it is often difficult or impossible to conduct controlled experiments in the field of economics. Thus, studying historical episodes can provide insights into how economic systems and policies work in the real world.

For Economists,historical Episodes