Which of the Following Statements Is True About Data

question 40

Multiple Choice

Which of the following statements is true about data?

• A) Empiricism does not necessarily involve data.
• B) Consistency of models can be checked using data.
• C) Facts that describe the world are not considered data.
• D) Convincing data analysis in economics relies on using a small sample.

---

Definitions:

Exchange Rate

The price of one country's currency expressed in terms of another country's currency, facilitating international trade and finance.

Cross-Rate

The implicit exchange rate between two currencies (usually non-U.S.) quoted in some third currency (usually the U.S. dollar).

Exchange Rate

The worth of a certain currency depicted through the value of a different currency.

Foreign Currency Approach

A method in international finance that involves analyzing business or investment decisions based on their impact in foreign currency terms.