A Refutable Hypothesis Must ____

question 41

Multiple Choice

A refutable hypothesis must ____.

• A) refer to variables that can be observed or measured
• B) make a positive statement about the existence of an effect or a relationship
• C) allow for the possibility that the observations will not support the hypothesis
• D) state at least one conclusion that has already been proven

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Definitions:

Real Wages

Wages or salaries adjusted for inflation, reflecting the true purchasing power of income.

Potential Output

The economy’s maximum sustainable output, given the supply of resources, technology, and rules of the game; the output level when there are no surprises about the price level.

Natural Rate

The natural rate refers to the long-term unemployment rate that an economy experiences under normal conditions, unaffected by short-term cyclical fluctuations.

Full-Employment

A scenario where an economy utilizes all accessible labor resources in the most optimized manner.