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

Question

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

Explanation / Answer

The answer is statement b and d are true.

Econometric theory applies statistical methods using economic data to show a relationship between the explained and explanatory variables.

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