Asked by Carissa Abrams on Jun 22, 2024
Verified
Economists usually have to make do with whatever data the world happens to give them.
Economists
Professionals specialized in the study of how societies use resources to produce goods and services and distribute them among the population.
Data
Information collected for reference or analysis, often used to support decision-making processes.
- Understand the role and limitations of economic models in explaining real-world phenomena.
Verified Answer
AM
ARSENE MORRISSONJun 24, 2024
Final Answer :
True
Explanation :
Economists often rely on observational data from the real world, as controlled experiments are not always feasible or ethical in economics, making it necessary to analyze existing data.
Learning Objectives
- Understand the role and limitations of economic models in explaining real-world phenomena.
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