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ECN 221 Questions and Answers with Verified Solutions | Latest 2026 Update

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ECN 221 Questions and Answers with Verified Solutions | Latest 2026 Update

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ECN 221 Questions and Answers with Verified Solutions | Latest 2026
Update




Q: experimentally falsified.

Answer:
deductive, inductive

Q: Attempts to describe the principles that drive the world are known as
_____________, while

Answer:
metaphors created to compare the world to something abstract are known as
____________.
models, theories theories, models

Q: ordinal

Answer:
distance between them isnt equal
ranked/ordered
qualitative

,ECN 221 Questions and Answers with Verified Solutions | Latest 2026
Update




Q: interval

Answer:
NO absolute 0
equal distance between numbers
quantiative

Q: ratio

Answer:
HAS absolute 0

Q: categorical

Answer:
ordinal/nominal
qualitative
Prefer x to y

, ECN 221 Questions and Answers with Verified Solutions | Latest 2026
Update




Q: quantitaitve

Answer:
numbers

Q: cross sectional

Answer:
ONE point in time
taking a snapshot

Q: time series

Answer:
ONE variable at multiple points in time

Q: panel data

Answer:
MULTIPLE variables and MULTIPLE years

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