12. Which of the following statements is TRUE about econometric theory? Economet

Question

12. Which of the following statements is TRUE about econometric theory? Econometric theory specifies the list of explanatory variables on the right side of an equation explaining an economic (phenomenon) relationship. a. b. Econometric theory uses data collected by statisticians to test the empirical validity of economic theory cannot explain the underlying relationship is estimated. the relationship constructed by economic theory b and d statements are TRUE c. Econometric theory desribes an economic relationship in mathematical form and d. Econometric theory is primarily concerned with empirical verification or refutation of e. All statements are TRUE f.

Explanation / Answer

Ans: b and d statements are true.

Explanation:

Econometric theory is not only used to verefy the economic relationship between variables but also used to check theory with its empirical validity.

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