How is the probability of an event defined?
What will be an ideal response?
The probability of an event is the frequency with which it occurs. The probability that one of N particular numbers is chosen randomly out of 100 numbers is N/
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When would you use a one-tailed rather than a two-tailed t-test when checking significance levels?
What will be an ideal response?
Rare earth metals are used to manufacture some important electronic components in popular products like cell phones. These metals are not really rare, but they are expensive to extract from the ground
What happens to the market for the rare earth metals if these extraction costs increase? A) Demand curve shifts leftward B) Demand curve shifts rightward C) Supply curve shifts leftward D) Supply curve shifts rightward
Economists usually maintain that policy designed to increase aggregate demand cannot have any long-run real effects. What lies behind this argument?
What will be an ideal response?
The primary tool the Federal Reserve uses to increase the money supply is
A) printing more money. B) lowering the required reserve ratio. C) buying Treasury securities. D) lowering the discount rate.