An Activity That Makes Some People Better Off and Nobody

question 139

Multiple Choice

An activity that makes some people better off and nobody worse off is a

• A) government transfer program such as Social Security.
• B) reduction in interest rates.
• C) price floor that increases income to suppliers.
• D) voluntary exchange.

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Definitions:

Interval Estimate

An estimate of a population parameter that provides an interval believed to contain the value of the parameter. For the interval estimates in this chapter, it has the form: point estimate ± margin of error.

Regression Analysis

A set of statistical processes for estimating the relationships among variables, including a dependent variable and one or more independent variables.

Sales

Sales involve the exchange of goods or services for payment or currency and constitute the operations and activities involved in promoting and selling goods or services.

Price

The amount of money required to purchase a good, service, or asset.