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In Economics, Graphs Serve Two Purposes: They Offer a Way

question 155

True/False

In economics, graphs serve two purposes: they offer a way to visually express ideas, and they provide a way of finding and interpreting patterns when analyzing economic data.


Definitions:

Anecdotal Evidence

Information derived from personal accounts, observations, or stories rather than from scientific analysis or hard data.

Statistical Evidence

Information derived from statistical procedures that is used to support or refute an assertion, hypothesis, or claim.

Persuasive Impact

The effect of communication or argumentation in convincing or influencing others to change their beliefs, attitudes, or behaviors.

Dependent Variable

In an experimental study, it is the variable being tested and measured, expected to change as a result of manipulations to the independent variable.

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