To Have Scientific Utility, a Variable Should Be ____

question 39

Multiple Choice

To have scientific utility, a variable should be ____.

• A) meaningful and valuable
• B) exhaustive and thorough
• C) exhaustive and mutually exclusive
• D) operational definition and meaning

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Definitions:

Classical Economics

A theory that emphasizes the importance of free markets, competition, and self-regulation in the economy.

Full Employment

An economic situation where all available labor resources are being used in the most efficient way possible, indicating low unemployment.

Government Intervention

Involves actions taken by a government to affect the economy, which can include regulations, subsidies, tariffs, and direct spending.

Aggregate Supply Curve

A graphical representation depicting the total supply of goods and services that firms in an economy are willing to sell at a given price level over a period of time.