What is the best definition of economic data? a) economic data is information used for calculation, analysis, or planning. b) economic data is the fastest time it takes to use the fewest resources. c) economic data is knowledge that can be applied to create solutions. d) economic data is a determination based on patterns and evidence.

The correct answer is A, as the best definition of economic data is that it is information used for calculation, analysis, or planning.

It is used to analyze, interpret and make predictions about economic systems, predicting variables such as the price of goods and services, interest rates, exchange rates, market reactions, the cost of production, the trend of business and the consequences of economic policy.

The answer is "A. Economic data is information used for calculation, analysis, or planning."

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john maynard keynes developed new economic theories in response to the stock market crash of 1929. great depression of the 1930s. first and second world wars. economic boom of the 1950s.