Measurement is necessary in economics to
A) construct diagrams depicting economic models.
B) evaluate the predictions of economic models.
C) help distinguish positive from normative statements.
D) identify the tasks an economy must perform.
E) construct mathematical models of the economy.

Question

Quizplus · Accepted Answer

Measurement is necessary in economics to evaluate the predictions of economic models. Without accurate measurement, it is impossible to determine the effectiveness of economic policies and theories.

Measurement Is Necessary in Economics to