DEFINITIONS
COMPLETENESS: All facts (truths) possible derived from
axioms
CONSISTENCY: No untrue facts derived from axioms.
BIAS: To influence, prejudice
VARIANCE: The square of the standard deviation
PARADIGM: A Pattern, an example
EXOGENOUS VARIABLE: External influence
ENDOGENOUS VARIABLE: Coming from within the model
A PRIORI GROUNDS: From cause to effect, valid independently
of observation
MODEL: Coherent group of general propositions used as
principles of explanation
HYPOTHESIS: Proposition(s) proposed for explanation of
some phenomena
ASSUMPTIONS: Act of taking for granted or supping
PREMISE: A proposition from which a conclusion is drawn
AXIOM: A proposition assumed without proof for purposes
of studying consequences that follow
THEOREM: A statement embodying something to be proved
POSTULATE: To claim or assume the existence or truth of
COROLLARY: To bring into mutual or reciprocal relationship
HEURISTIC: Serving to find out, further investigation
OCCAM'S RAZOR: "It is vain to do with more what can
be done with fewer" or "Entities are not to be without necessity"
ANALOGUE: Corresponding in function
INSTRUMENTALISM: Hypothesis & theory solely as tools
that are useful instruments
METAPHYSICAL STATEMENT: Topopper [sic] incapable of being
shown false
EPISTEMOLOGY: Branch of philosophy which investigates
the origin, nature, methods, and limits of human knowledge
EXTENSIVE MARGIN: Increasing time without increasing resources
INTENSIVE MARGIN: Increasing resources without increasing
time
TRUNCATION: To shorten by cutting off a part
CETERIS PARIBUS: Other things being equal or unchanging
REES-HAMILTON: O inflation if 15% unemployment
FRICTIONAL UNEMPLOYMENT: Workers changing jobs (voluntarily
or involuntarily) usually to similar occupation (10-week maximum)
STRUCTURAL: Changes in industrial, occupational, and demographic
structure of economy
DEFICIENT-DEMAND: Related to structural but due to insufficient
aggregate demand
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