What term did Frisch coin in 1926?
Econometrics
Microeconomics
Macroeconomics
Statistics
Answer
Econometrics, a term coined by Ragnar Frisch in 1926, refers to the application of mathematical and statistical methods to economic data. It involves the use of statistical techniques to estimate economic relationships, test economic theories, and forecast economic outcomes. Econometrics has become an essential tool for economists and policymakers, providing quantitative evidence to support decision-making and policy analysis.
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