Examlex
A scientist wants to test the hypothesis that a certain bird species in her back yard changes its songs to warning calls whenever it detects the presence of a potential predator.Which of the following most likely describes her initial observations?
Say's Law
An economic principle that asserts that supply creates its own demand, meaning that production of goods and services creates an equal amount of demand for those goods and services.
Classical Economics
Laissez-faire economics. Our economy, if left free from government interference, tends toward full employment. The prevalent school of economics from about 1800 to 1930.
Fiscal Policy
Manipulation of the federal budget to attain price stability, relatively full employment, and a satisfactory rate of economic growth.
Recessions
Periods of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.
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