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A biologist hypothesizes that the sounds made by lions at night in the Serengeti are territoriality calls and predicts that two lions inhabiting the same territory will roar even louder.She selects an area inhabited by one lion, records its calls, and plays them back in the same area.She records her observations and notes that the lion does indeed roar more often as a result of this experiment.What would be the next step in the hypothesis-and-prediction method?
Real Gain
The increase in value or profit after adjusting for inflation or other external factors that affect purchasing power.
Price Level
The overall level of prices of goods and services in an economy at a given time, often measured by a price index.
Nominal Interest Rate
The stated rate of interest on a financial instrument, not accounting for the compounding effect or inflation.
Inflation Rate
The elevation in the percentage cost of goods and services across an economy over an established period.
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