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ADB: An abbreviation that stands for either the African Development Bank the Asian Development Bank. The African Development Bank is a regional multilateral development institution engaged in promoting the economic development and social progress of its member countries in Africa. The Bank, established in 1964, started functioning in 1966 with its Headquarters in Abidjan, Cote d' lvoire. The Bank borrows funds from the international money and capital markets. Its shareholders are the 53 countries in Africa as well as 24 countries in the Americas, Europe, and Asia. The Asian Development Bank is a multilateral development finance institution dedicated to reducing poverty in Asia and the Pacific that engages in mostly public sector lending for development purposes in its developing member countries. They pursue this goal by helping to improve the quality of people's lives providing loans and technical assistance for a broad range of development activities. ADB raises fund through bond issues on the world's capital markets but they also rely on members' contributions. The ADB was established in 1966 and has its headquarters in Manila, Philippines. As of September of 2003, the ADB had 58 member countries.

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Lesson 2: Economic Science | Unit 3: Verification Page: 12 of 20

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  • How an hypothesis is verified using real world data.
  • Ways to obtain data that can be used to test an hypothesis.
  • The importance of the ceteris paribus assumption that other factors remain unchanged when testing an hypothesis.
  • What it means to the scientific method when an hypothesis does and does not agree with real world data.
  • How continually testing an hypothesis that agrees with real world data eventually gives us a principle.
  • Why an hypothesis that does not agree with real world data can be just as valuable to the scientific method as one that does not.

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DATA

Observations or measurements that quantify or otherwise identify some aspect of the real world. Data are used to track economic performance, quantify economic characteristics, and test economic hypotheses. Data collection is often the most challenging part of undertaking an empirical analysis.

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Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway wanting to buy either a graduation present for your niece or nephew or a toaster oven that has convection cooking. Be on the lookout for attractive cable television service repair people.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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