Final answer:
A postulate is assumed true and serves as a basic assumption in mathematics, where a hypothesis is akin to a 'suggestion,' a tentative explanation that can be tested. Theories do not turn into laws just by the virtue of time.
Step-by-step explanation:
The statement, 'A postulate is another name for a conjecture we believe to be true,' is false. A postulate, in fact, is a fundamental statement in mathematics that is assumed to be true without proof. It serves as a starting point for further reasoning and development of theorems. On the other hand, a conjecture is an educated guess that has not yet been proven or disproven.
The word closest in meaning to hypothesis is 'suggestion' because a hypothesis is a tentative explanation for observations or scientific laws that can be tested through experimentation or further observation.
Finally, the statement 'When a theory has been known for a long time, it becomes a law' is false. Scientific laws and theories are distinct; a law describes a repeated observation, whereas a theory explains why those observations occur. Theories do not become laws over time.