Question

Syd is an economist putting together an economic model to predict the outcome from particular causes and effects in the economy. What tool is best for testing out his model?

A: Dialectic dialogue
B: Mathematical functions
C: Environmental absolutes

Answer 1

The correct answer is (B)

Step-by-step explanation:

Economists are helpful to predict future economic and financial phenomenon’s. In that regard, statistical or mathematical models are considered more appropriate and it is said that they provide better results. In the above scenario, Syd is attempting to construct an economic model for that, the suitable technique to examine the cause and effect to predict the outcomes are mathematical functions. The reason is that mathematical models are more appropriate to predicts cause and effect.