Question

Statistical information basically helps to understand the _____________.

• A. economic problems
• B. formulation of economic policies
• C. both (A) and (B)
• D. neither (A) nor (B)

Answer 1

The correct option is C both (A) and (B)

Statistics is useful in studying the role of the government in economic problems and formulation of policies to alleviate it. Through the collection and analysis of statistical data the government will be able to identify problems such as unusually high unemployment and then formulate the best policy to help solve the problem.