To Arrive at a Conclusion Based Upon Observations, Scientists Use

question 37

Multiple Choice

To arrive at a conclusion based upon observations, scientists use _____.

• A)inductive reasoning
• B)deductive reasoning
• C)subjective reasoning
• D)logical intuition
• E)biased methods

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Definitions:

Aggregate Demand

The aggregate demand for every good and service within a certain economy or market.

Long-run Phillips Curve

A concept suggesting that in the long term, there is no trade-off between inflation and unemployment, implying the curve is vertical at the natural rate of unemployment.

Inflation Rate

A percentage-based uplift in the cost of goods and services within an economy over a designated timeframe.

Zero-inflation

A situation where the price level of goods and services remains constant over time, indicating an absence of inflation in the economy.