Economists use the scientific method to study the economy. David Matthews is an economist studying the effect of cold weather on the purchasing of streaming movies. Place the following steps in order. David notices that people tend to stream more movies at home when the weather is cold outside. David comes up with the theory that home streaming platforms will have more business in the winter months than at other parts of the year. David arranges to follow the streaming habits of a thousand different families. He will also record the weather on each day. At the end of the year, David will see if his theory was correct by comparing the number of movies downloaded with the weather for certain days. He will then decide if his theory was correct.

Economists use the scientific method to study the economy. David Matthews is an economist studying the effect of cold weather on the purchasing of streaming movies. Place the following steps in order. David notices that people tend to stream more movies at home when the weather is cold outside. David comes up with the theory that home streaming platforms will have more business in the winter months than at other parts of the year. David arranges to follow the streaming habits of a thousand different families. He will also record the weather on each day. At the end of the year, David will see if his theory was correct by comparing the number of movies downloaded with the weather for certain days. He will then decide if his theory was correct.

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter15: Monetary Policy

Section: Chapter Questions

Problem 1QP

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