March 17, 2018 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
AGGREGATE MARKET: An economic model relating the price level and real production that is used to analyze business cycles, gross domestic product, unemployment, inflation, stabilization policies, and related macroeconomic phenomena. The aggregate market, inspired by the standard market model, captures the interaction between aggregate demand (the buyers) and short-run and long-run aggregate supply (the sellers).

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

Lesson 2: Economic Science | Unit 3: Verification Page: 9 of 20

Topic: Overview and Data <=PAGE BACK | PAGE NEXT=>

An hypothesis is a possible, even probable, scientific relationship. An hypotheses is a candidate to become a principle. Hypothesis must be tested before becoming principles.
  • A possible hypothesis: The distance between a passing car and a jogger depends on the driver's political philosophy.
  • Alternative hypotheses can also explain differences in distance between jogger and passing car.
An hypothesis that seems reasonable is not necessarily right. It must be verified with real world data.
  • The scientific method does not accept an explanation at face value. It needs to prove an explanation is correct.
  • Scientists check to see if a reasonable explanation is consistent with the data. The scientific process is all about verifying hypotheses.
  • To test our hypothesis, ask people about passing distance and political affiliation.
  • While subjective data, based on asking people, can be useful, objective methods of data collection are usually preferred. Let's use lasers.
  • Government is a fruitful source of objective data.

Course Home | Lesson Menu | Page Back | Page Next


The intercept of the saving line indicates autonomous saving, saving that does not depend on the level of income or production. This can be thought of as the baseline level of saving that would be undertaken if income falls to zero. Autonomous saving is affected by the consumption expenditures determinants, which cause a change in the intercept and a shift of the saving line. The value of the intercept of the saving line is the negative of the value of the intercept of the consumption line.

Complete Entry | Visit the WEB*pedia


[What's This?]

Today, you are likely to spend a great deal of time driving to a factory outlet seeking to buy either a graduation present for your niece or nephew or a toaster oven that has convection cooking. Be on the lookout for infected paper cuts.
Your Complete Scope

This isn't me! What am I?

The average bank teller loses about $250 every year.
"If football taught me anything about business, it is that you win the game one play at a time."

-- Fran Tarkenton, Football Player

Ad Valorem
A PEDestrian's Guide
Xtra Credit
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.

User Feedback

| AmosWEB | WEB*pedia | GLOSS*arama | ECON*world | CLASS*portal | QUIZ*tastic | PED Guide | Xtra Credit | eTutor | A*PLS |
| About Us | Terms of Use | Privacy Statement |

Thanks for visiting AmosWEB
Copyright ©2000-2018 AmosWEB*LLC
Send comments or questions to: WebMaster