Idiographic Explanations Are Inductive and Nomothetic Explanations Are Deductive

question 35

True/False

Idiographic explanations are inductive and nomothetic explanations are deductive.

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Definitions:

Investment

asset or item acquired with the goal of generating income or appreciation.

Interest

The cost of borrowing money, typically expressed as an annual percentage of the loan amount, or the income earned on deposited funds.

Simple Interest Rate

An interest rate calculation method that is based solely on the original principal amount and does not factor in compounded interest.

Loan

A sum of money that is borrowed, often from a financial institution, which is expected to be paid back with interest.