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
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
