Question

How do economists use data? Check all that apply.

to follow and predict unemployment rates
to communicate with customers instantly
to ship goods to countries all over the world
to explain trends in production and shipping
to apply automation to reduce production costs

Answer 1

Economists use data to:

- to explain trends in production and shipping

- to follow and predict unemployment rates

Answer 2

Answer:

to explain trends in production and shipping, to follow and predict unemployment rates

Explanation:

• An economist to describe the actual state of the economy tend to measure the qualitative and quantitative aspects of the data from the; past and present and then give their future predictions.

• They use various statistical measures of data that help them in predicting the probability of the rise or fall in production or any other aspect like the job loss or the FDI and many aspects of the economy.