Verifiable Evidence That Is Based Upon Objective Observation, Measurement, And/or

question 495

True/False

Verifiable evidence that is based upon objective observation, measurement, and/or experimentation is called empirical evidence.

---

Definitions:

A W Phillips

An economist known for the Phillips Curve, which suggests an inverse relationship between unemployment and inflation rates.

Unemployment Rate

The quota of the working-age population that is without a job and searching for one.

Rate Of Change

A measure that determines the extent to which a quantity grows or declines over a particular period of time, often expressed as a percentage.

Economic Expansions

Phases in the business cycle where the economy grows, marked by increased production, employment, and consumer spending.