An Operational Definition Is Composed of Two Parts

question 5

Multiple Choice

An operational definition is composed of two parts:

• A)concrete meaning used in study and criteria to empirically measure concept.
• B)problem statement and research questions.
• C)cognitive reality and physical reality.
• D)research and literature review.

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Definitions:

Time-value

The concept that money available at the present time is worth more than the identical sum in the future due to its potential earning capacity.

Real Capital

Physical assets like machinery, buildings, and infrastructure that are used in the production of goods and services.

Equilibrium Interest Rate

The interest rate at which the demand for money balances exactly equals the supply of money in circulation, leading to economic equilibrium.

Taxation

The process by which governments charge fees on individuals and corporations to fund public spending.