Examlex
Replacing the Articles of Confederation in 1787,the new U.S.Constitution allowed both the federal government and state governments to retain significant measures of sovereignty.
Normative Economic Statement
A statement that reflects an opinion, which cannot be proved or disproved by reference to the facts.
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.
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