An Operational Definition Is

question 43

Multiple Choice

An operational definition is:

• A)a statement that attempts to predict a set of phenomena and specifies relationships among variables that can be empirically tested.
• B)an organized system of assumptions and principles that purports to explain a specified set of phenomena and their interrelationships.
• C)the precise meaning of a term used to describe a variable,such as a type of behaviour that researchers want to measure.
• D)the principle that a scientific theory must make predications that are specific enough to expose the theory to the possibility of disconfirmation.

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Definitions:

Equilibrium Quantity

The quantity supplied and the quantity demanded at the equilibrium price.

Loanable Funds

The money available for borrowing in the financial market, determined by the level of savings and the supply of credit.

National Saving

The total of private savings and government savings, essentially the portion of national income that is not consumed or spent by government.

Open-Economy Macroeconomic Model

A framework used to evaluate the interactions between a country’s macroeconomy and the global economy, taking into account trade, foreign investment, and exchange rates.