Economic Analysis Is Used

question 9

Multiple Choice

Economic analysis is used

• A) only by instructors and students in economics to understand the world.
• B) only by business people to raise profits.
• C) only by policy makers to make policy decisions.
• D) in all decision making.

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Definitions:

Statistically Significant

A term used to describe a result that is not likely to occur randomly, but rather is likely to be attributable to a specific cause.

Replicable

The ability of a study or experiment to be repeated with similar results, underscoring the reliability of the findings.

Statistically Significant

A measure of confidence in the results of a study or experiment that indicates the observed effects are unlikely to be due to chance.

Replicable

Replicable refers to the ability of a study or experiment to be repeated with consistent results by other researchers or experimenters.