Why Is Economics Called an Empirical Science

question 255

Multiple Choice

Why is economics called an empirical science?

• A) because economics has been used to both create and destroy empires
• B) because economics uses math to evaluate the usefulness of its models
• C) because economics relies on real-world data to determine the usefulness of a model
• D) because economics utilizes only assumptions to evaluate how accurate a model is

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Definitions:

Processor Speed

The speed at which a computer's CPU executes instructions, typically measured in gigahertz (GHz), influencing the overall computing performance.

CPU Cache

A smaller, faster memory component located inside or close to the CPU that stores copies of frequently accessed data from main memory to speed up processing.

GPU

Graphics Processing Unit, a specialized processor designed to accelerate the rendering of images, animations, and video.

Video Adapter

A hardware device or component that connects to a computer or other display source to generate and output video signals to a display device such as a monitor or projector.