Examlex
An increase in government expenditure shifts the AD curve_________ and an increase in taxes shifts the AD curve_________ .
Hypothesis
A theory about how key variables relate.
Scientific Method
A systematic and empirical approach to research in which a question is identified, relevant data is gathered, a hypothesis is formulated, and the hypothesis is empirically tested.
Economic Variables
Key factors or indicators that reflect the economic performance or position of an economy, such as GDP, inflation, and unemployment rate.
Theoretical Predictions
Assumptions or forecasts based on existing theories or models about how certain conditions will influence outcomes in specific scenarios.
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