A p-value refers to the probability of obtaining the result that you find in the sample data if the null hypothesis is not true.
Answer the following statement true (T) or false (F)
False
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You can think of velocity as:
A. how much output money can buy. B. how quickly prices are rising. C. how often money changes hands. D. the ratio of the money supply to the inflation rate.
If the United States' unemployment rate is 5% and the capacity utilization rate is 85-90%, then the economy is at ___________.
Fill in the blank(s) with the appropriate word(s).
The change in the quantity consumed that is caused by a change in the relative price of a good, with real income held constant, refers to the:
A. substitution effect. B. income effect. C. equimarginal rule. D. law of diminishing marginal utility.
When the price of a good rises, consumers buy a smaller quantity because of the ________ effect and the ________ effect
A) substitution; income B) normal; inferior C) substitute; complement D) supply; demand