Political Science, asked by adilkhanafq591, 9 months ago

Explain the use of econometrics in context with forecasting and policy making by using some suitable hypothetical example.

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Answered by thankyebo12
1

Answer:

Econometrics is usually described as the application of statistical techniques to economic data. Economists use econometrics to quantify economic relationships; for example, to estimate how demand for a product varies with its price, or to estimate trends in a nation's imports over a given time period.

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