According to Mises, the most appropriate policy response to the crisis is

What causes the recession according to Austrians?

What is the main cause of the business cycle according to Ludwig von Mises?

According to Caldwell (1980), the realists will support only those theories that they believe may actually be true, and they will posit such theories for a time as being “true by convention”.

If the goal of science is to find theories that are predictively adequate, instrumentalism fails. However, if the goal of science is the discovery of true explanatory theories, then instrumentalism is a viable methodological stance.

Instrumentalists claim that theories are best viewed as nothing more than instruments. So viewed, theories are neither true nor false, but only more or less adequate, given a particular problem.

What usually makes it difficult to produce clear-cut evidence to justify the acceptance of hypotheses according to Friedman (1966)?

Factual evidences can never prove a hypothesis; they can only fail to disprove it.

What sentence below is true?

Conclusions drawn from positive economic analyses are based on value judgments, and cannot be tested or supported by data, while statements based on normative economics can be tested empirically.