Figure 12-2 -Refer to Figure 12-2. at Output Level Y_r

question 33

Multiple Choice

Figure 12-2
-Refer to Figure 12-2. At output level Y_r,

• A) potential output is greater than actual output.
• B) the expected price level equals actual price level.
• C) the actual unemployment rate is less than the natural rate of unemployment.
• D) aggregate demand will fall over time to restore equilibrium.

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Definitions:

F-Ratio

Statistic used to test differences between group means.

α

In statistics, α (alpha) typically denotes the level of significance, the probability of rejecting the null hypothesis when it is true.

Df

Short for degrees of freedom, referring to the number of independent pieces of information remaining after estimating one or more parameters.

Y-Intercept

The point where a line crosses the y-axis on a graph, indicating the value of y when x equals zero.