Good Theory Can Either Precede or Postdate Data Collecting and Hypothesis

question 22

Essay

Good theory can either precede or postdate data collecting and hypothesis testing.Describe an example,from a discipline of your choice,in which observation or experiment prompted the development of a model,and provide a second example in which already existing theory encouraged experimental research.

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Definitions:

Deficits

Occurs when an entity, typically a government, spends more money than it receives in revenue over a specific period, resulting in a shortfall that needs to be financed.

Inflationary Gap

The difference between the actual level of output in an economy and the output level needed to achieve full employment without inflation.

Budget Surplus

A situation where income or revenues exceed expenditures over a specified period of time.

Aggregate Demand

Aggregate demand represents the total demand for goods and services within an economy at a given overall price level and time period.