Since Economists Cannot Use Natural Experiments Offered by History, They

question 30

True/False

Since economists cannot use natural experiments offered by history, they must use carefully constructed laboratory experiments instead.

---

Definitions:

APC

Average Propensity to Consume, which is a measure of the percentage of income that is spent on goods and services rather than being saved.

Income

Funds regularly amassed from labor or capital invested.

APS

The abbreviation for "Aggregate Planning Strategy," a process in operations management to balance production and demand over a medium-term horizon; or it could refer to "Automatic Payment System," depending on context.

Income

The financial gain earned by an individual or business, typically measured on an annual basis, coming from work, investments, or other sources.