The Informal Sector of an Economy

question 13

Multiple Choice

The informal sector of an economy:

• A)Functions at a large scale
• B)Is characterized by permanent employment
• C)Has set hours and weekly wages
• D)All of the above
• E)None of the above

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Definitions:

Probabilities

A branch of mathematics dealing with the likelihood of occurrence of different events.

P-value

The probability of observing a statistic as extreme as, or more extreme than, the observed results under the null hypothesis.

Null Hypothesis

A statement asserting there is no significant difference or effect, which researchers aim to test against alternative hypotheses.

Significance Tests

Statistical tests used to determine whether there is enough evidence in a sample of data to infer that a certain condition holds for the entire population.