Question

Which of the following is a Nobel Prize winning economist who has argued that theories should be tested based on the validity of their predictions?
a. Milton Friedman
b. Ben Bernanke
c. Alan Greenspan
d. None of the above

Answer 1

Answer:

(A). Milton Friedman

Explanation:

Milton Friedman, an American economist received the Nobel prize in 1976.

In his 1953 essay, "The Methodology of Positive Economics", Friedman argued that an economic theory should be judged on how accurate its predictions are, and not on the soundness of its assumptions.