| 单词 | extrapolate |
| 释义 | extrapolate Extend an apparent pattern beyond the actual observations on which it is based. Extrapolation can be applied both to cross-section and time-series data. The elasticity of demand for any good can only be calculated for price levels which have actually occurred. An economist asked to forecast what would happen if price rose a little above its previous maximum, or fell below its previous minimum, can only rely on extrapolation. If demand is inelastic over the whole observed range, it would seem sensible to assume that it would still be inelastic over these extensions to its range. A growth rate for the economy can be calculated from past data on GDP. If asked what growth is likely in the future, it seems likely that if growth in the recent past has been slow, it will continue so. Extrapolation is not proof, but it is used to provide hypotheses whose falsity would be surpising. |
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