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FISCAL: Relating to government taxation, spending, or financial matters. The term is most often using in combination with other words, such as fiscal budget, fiscal year, or fiscal policy. In each case, the addition of the term "fiscal" means a connection with government financial matters. Fiscal policy, for example, is policy that makes use of government spending and taxation. Fiscal year is then the standard 12-month period government uses for collecting taxes, appropriating spending, and otherwise tabulating its budget.
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Lesson 2: Economic Science | Unit 3: Verification
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Page: 11 of 20
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Topic:
Evaluation: Don't Agree
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The data and hypothesis don't agree.- While we can never absolutely prove a universal positive, we can disprove it, we can reject it as false.
- Rejecting an hypothesis can be as useful and as informative than accepting it. We know something that is NOT true.
- If an hypothesis is wrong, then maybe the theory is wrong. Maybe the previously verified principles, unverifiable world axioms are wrong. Maybe the specific test was bad.
- Whether an hypothesis is accepted or rejected, the recommendation is to do another test and another
Remember science is a process, not a subject.
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REAL-BALANCE EFFECT A change in aggregate expenditures on real production made by the household, business, government, and foreign sectors that results because a change in the price level alters the purchasing power of money. This is one of three effects underlying the negative slope of the aggregate demand curve associated with a movement along the aggregate demand curve and a change in aggregate expenditures. The other two are interest-rate effect and net-export effect. The real-balance effect is somewhat analogous to the income effect underlying the negative slope of the market demand curve.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time at an auction wanting to buy either a square lamp shade with frills along the bottom or an electric coffee pot with automatic shutoff. Be on the lookout for defective microphones.
Your Complete Scope
This isn't me! What am I?
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Paper money used by the Commonwealth of Massachusetts prior to the U.S. Revolutionary War, which was issued against the dictates of Britain, was designed by patriot and silversmith, Paul Revere.
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"Progress always involves risk. You can't steal second base and keep your foot on first. " -- Frederick B. Wilcox
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X
Exports;Marks the Spot
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