The goal of an economist who formulates new theories is to Select one: a.provide an interesting framework of analysis, whether or not the framework turns out to be of much use in understanding how the world works. b.demonstrate that economists, like other scientists, can formulate testable theories. c.contribute to an understanding of how the world works. d.provoke stimulating debate in scientific journals.

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Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.