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Suppose that saving equals $0 when disposable income equals $1 trillion. Along the saving function, occurs to the left of $1 trillion and occurs to the right of $1 trillion.
Efficient
Refers to achieving maximum productivity with minimum wasted effort or expense.
Unbiased
A term used in statistics to describe an estimate or model that is accurate and not skewed by any factors.
Point Estimate
A single value given as an estimate of a population parameter that is of interest, usually derived from sample data.
Sampling Distribution
A statistical probability distribution derived from a high volume of samples taken from a particular population.
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