If the p-value is 10%, then the
A. level of confidence is 90%.
B. level of significance is 10%.
C. probability of a Type I error is 90%.
D. both a and b
E. null hypothesis should not be rejected if the level of significance is 5%
Answer: E
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A reduction in the rate of inflation is called:
a. deflation. b. disinflation. c. hyperinflation. d. cost-push inflation.
Real-world market structures tend to be:
A. monopolies. B. perfectly competitive. C. oligarchies. D. between monopolistically competitive and oligopolistic.
Refer to the figure above. What is the price at which the monopolist should sell its output?
A) $3 B) $4 C) $6 D) $9
Refer to Table 17-4. What are the quantity of labor and marginal revenue product of labor that will maximize the profit Apple would earn from selling iPods?
A) 2; $680 B) 2; $160 C) 3; $140 D) 3; $340