A Theory

question 40

Multiple Choice

A theory

• A)is derived from hypotheses.
• B)is the result of long deliberation by a scientist.
• C)attempts to explain a class of phenomena.
• D)all of the above.

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Definitions:

Intermediate Good

A product used as an input in the production of a final good or service.

GDP

Gross Domestic Product, the total value of all goods and services produced within a country's borders in a specific time period.

Real GDP

Gross Domestic Product adjusted for inflation, which measures the value of goods and services produced by a country in a year in real terms.

Standard of Living

The measure of affluence, luxury, tangible assets, and vital provisions offered to a chosen demographic or geographical zone.