Which is the best statement about the way economists study the economy?

Question

Quizplus · Accepted Answer

Economists typically devise theories about how the economy works, then collect data to test these theories. They use statistical methods to analyse the data and assess whether their theories accurately explain economic behavior. While economists may look at historical trends and patterns, their primary focus is on understanding current economic conditions and making predictions about future outcomes. They do not generally use controlled experiments to study economic phenomena.

Which Is the Best Statement About the Way Economists Study