Is it "the policy is a predicable" or "the policy is predicable"?
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I'm not even familiar with the word, so maybe I shouldn't say this, but...
You can use either form if you want. I see no difference between predicable and the way we use consumable, for example. Adjectives are often converted into nouns in English, especially in formal/technical/legal contexts.
This ink-jet cartridge is [a] consumable is valid either way.
LATER just for interest, I checked Google books for "policy is [a] predicable". Neither occurred even once, which makes me less ashamed of not knowing the word.
I also ran standard Google web searches on both forms. Disregarding this actual question on EL&U, there are only two instances - and one of those is a reference to the other anyway. Just so you know, it says the Fed's policy is a predicable.
EVEN LATER I can't find any evidence of predicable ever being applied to any type of policies apart from the one reference above. Even though I can imagine an insurance policy being assertable (exercisable, capable of being claimed against?), it's not obvious to me how the Fed's fiscal policy could be thus described. But I'm prepared to believe that's just because I'm not familiar with specialised terminology in these areas (and I suppose OP is).
"Predicable" is an adjective meaning "assertable", and also a noun meaning "an attribute".
In this case, since "the policy is an attribute" makes no sense, the correct form is:
Meaning "the policy is assertable".
The OED gives predicable as:
Two rare derivatives are predicableness and predicably.
The answer to the OP’s question is therefore that both the policy is a predicable and the policy is predicable are possible. I don’t think I’d advise either, though.
jrdoko, can't you simply look it up in a dictionary?