The Process of Proposing a Likely Explanation for an Event

question 8

Short Answer

The process of proposing a likely explanation for an event that must be tested is referred to as ______.

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Definitions:

Stagflation

A contraction, or stagnation, of a nation’s output accompanied by inflation in the price level.

Aggregate Demand

The sum of the need for all products and services in an economy at a certain price level during a specific time frame.

Unemployment

The condition of someone of working age who is willing to work, but unable to find employment.

Supply-Side Economics

An economic theory that advocates reducing taxes and regulations to stimulate production and economic growth.