The Preference of Scientists for the Theory That Makes the Fewest

question 142

Multiple Choice

The preference of scientists for the theory that makes the fewest unfamiliar or untested assumptions is known as the principle of

• A) parsimony.
• B) statistical significance.
• C) normal distribution.
• D) informed consent.

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Definitions:

Board of Governors

An executive or administrative arm of an organization or system, often responsible for making key decisions and overseeing operations.

Reserve Requirements

Central bank regulations that set the minimum amount of reserves that must be held by commercial banks.

Money Supply

The money supply is the total amount of money—cash, coins, and balances in bank accounts—in circulation within a country's economy at a given time.

Discount Rates

Discount rates refer to the interest rate charged to commercial banks and other financial institutions for loans received from the central bank's discount window.