Economic Data

  • Created by: April15
  • Created on: 16-10-19 20:28

Economic Data:

The collection and reliablity of data:- Economists collect data for two main reasons:

  • The scientific method requires that theories be tested;data may be used to refute or support a theory
  • Economists are often required to provide support for particular policies, without economic data ity is difficult to make decisions and recommendations about policies

Some macroecomic data is collected from a variety of sources which make some information inaccurate. Surveys are only relaible if there is accurate sampling


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