Which of the following statements is false?
A) An economic theory is validated on the basis of observation.
B) An economic theory is a mathematically deduced equation and it is unrelated to observations in the real world.
C) An economic theory is rejected if it does not pass the test of empirical scrutiny.
D) An economic theory can be validated with data.

Question

Quizplus · Accepted Answer

Economic theories are not solely mathematically deduced equations unrelated to real-world observations. They often stem from observations and are tested against empirical data to ensure their validity and applicability to real-world scenarios.

Which of the Following Statements Is False