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A leftward shift in the aggregate supply curve
Null Hypothesis
A statement used in hypothesis testing that indicates no effect or no difference, and it's the assumption that the experiment aims to test against.
Test Statistic
A numerical value calculated from a sample data set. It is used in statistical hypothesis testing to determine how extreme the observed data is compared to the null hypothesis.
Standard Error
A statistical measure that quantifies the amount of variability or uncertainty in a sample statistic estimate of a population parameter.
Test Statistic
A calculated value used in statistical testing to determine whether to reject the null hypothesis.
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