Card 17 / 19: Does the material in this chapter show that we prove economic theory with experimental evidence?
Answer:
No, we can never have a truly controlled experiment in economics. However, our deductive logic might give us true principles that, in practice, are insignificant and/or are swamped by other factors that we didn't include in our reasoning. Looking at history is thus a useful "check" on our principles or laws. Sample Partial Credit Answer No, we are just seeing if our economic laws are illustrated in history.
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