Empirical economics refers to the
A) exclusion of irrelevant data when analyzing a model.
B) collection and use of data to test economic theories.
C) model of economics used prior to the Industrial Revolution.
D) belief that what is true for a part is necessarily true for the whole.

Question

Quizplus · Accepted Answer

Empirical economics involves the collection and analysis of data to test and inform economic theories, making it a data-driven approach to understanding economic phenomena.

Empirical Economics Refers to the