3
AssignmentMultiple Choice

Technology and Economics

Question 3 • (Galli)WCA 2221 Civics/Economics 1st nine weeks 26-27

Economists make economic predictions using:

Answer
A
educated guesses based solely on their opinion.
B
data about the economy from the past.
C
information only about other nations.
D
data about how outside economies allocate their resources.

Explanation

Economists use evidence, including past data about prices, employment, production, and other economic activity, to identify patterns and make predictions. Their forecasts are not based solely on personal opinion, and information about other nations or their resource allocation alone would not be enough.

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