Which of the Following Describes the Chain of Events Involved

question 200

Multiple Choice

Which of the following describes the chain of events involved in creating a theory?

• A) Gather data, evaluate results, tentatively accept the theory, and support or refute the hypothesis.
• B) Select a theory, create a hypothesis, and evaluate the evidence.
• C) Formulate a hypothesis, gather data, evaluate the results, support or refute the hypothesis, and tentatively accept theory.
• D) Predict behaviour, evaluate the results, and formulate a hypothesis.

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Definitions:

Demand Shock

A sudden event that increases or decreases demand for goods or services in an economy, often leading to changes in prices and output.

Expansion Phase

A period in the business cycle when the economy moves from a trough to a peak, characterized by an increase in economic activity, production, and employment.

Prosperity

A state of economic well-being characterized by financial success, growth, and good fortune, where living conditions and quality of life are improved.

Unanticipated Inflation

Inflation that occurs when people do not expect it, often leading to disruptions in economic planning and contracts.