A Shift in the Demand Curve to the Left, All

question 125

Multiple Choice

A shift in the demand curve to the left, all other things unchanged:

• A) will cause the supply curve to shift to the left, too.
• B) will cause a movement upward along the supply curve and a higher equilibrium price.
• C) will cause a movement downward along the supply curve and a lower equilibrium quantity.
• D) will result in a lower equilibrium price and greater equilibrium quantity.

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Definitions:

Wilcoxon Signed Rank

The Wilcoxon Signed Rank Test is a non-parametric statistical test used to compare two related samples, matched samples, or repeated measurements on a single sample to assess differences in their population mean ranks.

Normally Distributed

Describes a statistical distribution that is symmetric around the mean, showing that data near the mean are more frequent in occurrence.

F-distribution

A probability distribution used in analysis of variance (ANOVA), depicting ratios of variances to assess the significance of group differences.

Kruskal-Wallis Test

A nonparametric method for testing whether samples originate from the same distribution, used when the assumptions of the ANOVA are not met.