What was the specific field in which Klein created computer models?
Astrophysics
Quantum mechanics
Econometrics
Meteorology
Answer
Econometrics is the field of economics that uses statistics to study the relationship between economic variables. In the 1940s, Lawrence Klein developed computer models to analyze the relationships between different economic variables. Klein's models were used to predict the effects of government policies and to forecast economic trends.
Mastering Macro: The Legacy of Lawrence Klein
More Questions
What was the application of Klein’s econometric models?
In whose memory is the Nobel Prize that Klein won named?
What was the key tool used by Klein in his research that changed economic forecasting?
How did Klein's contribution to econometrics specifically affect economic policies?
What made Lawrence Klein stand out in the field of economics?
Related Quizzes
Subscribe Now!
Learn something
new everyday
Playing quizzes is free! We send 1 quiz every week to your inbox