Asked by
Sierra-Jade Joiner
on Dec 08, 2024Verified
Refer to Scenario 1.2. The collection and use of the data on automobile emissions and global warming levels is an example of
A) law and economics.
B) economic history.
C) econometrics.
D) empirical economics.
Econometrics
The application of statistical methods to economic data to give empirical content to economic relationships.
Empirical Economics
An approach to economics that relies on real-world data and statistical analysis to validate or disprove theories and models.
- Recognize the importance of econometrics and empirical data in forming and testing economic hypotheses.
Verified Answer
VK
Learning Objectives
- Recognize the importance of econometrics and empirical data in forming and testing economic hypotheses.