The Lucas Critique suggests that: a.Without knowing why poeple behave the way they do, empirical regularites are not reliable guides for formulating public policy. b.Empirical regularites are not reliable guides for formulating public policy. c.Empirical findings are useless. d.Theoretical findings are useless. e.Theoretical findings are not reliable guides for formulating public policy

The Lucas Critique suggests that: a.Without knowing why poeple behave the way they do, empirical regularites are not reliable guides for formulating public policy. b.Empirical regularites are not reliable guides for formulating public policy. c.Empirical findings are useless. d.Theoretical findings are useless. e.Theoretical findings are not reliable guides for formulating public policy

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter11: Public Goods And Common Resources

Section: Chapter Questions

Problem 3PA

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