An approach to economics that applies statistical techniques and data to economic problems is called
A) Ockham's razor.
B) laissez-faire economics.
C) empirical economics.
D) normative economics.

Question

Quizplus · Accepted Answer

Empirical economics involves the use of data and statistical methods to analyze economic phenomena and test economic theories. This approach contrasts with theoretical or normative economics, which focuses on what ought to be rather than what is observable and measurable.

An Approach to Economics That Applies Statistical Techniques and Data