Macroeconomics is a branch of economics that studies how the aggregate economy behaves. A variety of economy-wide phenomena is examined such as, inflation, price levels, rate of growth, national income, gross domestic product (GDP), and changes in unemployment.
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The steps of the research cycle in the correct order is given as:
⇒ Deductive approach/above theory
⇒ hypothesis
⇒ empirical observation/inductive approach below
⇒ Analysis.
<h3>What is the research cycle?</h3>
The research cycle is a set of steps that guide us through the process of gathering data and generating conclusions.
<h3>What is the research cycle's purpose?</h3>
Its primary goal is to generalize results. Qualitative research designs, on the other hand, are used to comprehend experiences and viewpoints using non-numerical data such as words and text.
<h3>What is the most important stage of the research cycle?</h3>
The first stage in doing research is to define the scientific problem. To minimize misinterpretation later, it is critical to precisely express your concern.
The formulation of scientific problems is often acknowledged as the most challenging and significant aspect of any research activity.
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