A 02 Level of Statistical Significance Indicates That We Can Be

question 4

Multiple Choice

A .02 level of statistical significance indicates that we can be ________ certain that the observed difference or relationship is real and not due to chance.

• A)1%
• B)2%
• C)98%
• D)100%

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Definitions:

Short-Run Aggregate Supply Curve

A graphical representation showing the relationship between the total supply of goods and services produced by an economy and the price level for those goods and services in the short term.

Long-Run Aggregate Supply Curve

A graphical representation showing an economy’s potential output level when all factors of production are fully utilized.

Labor Force

The total number of people available to work, including both the employed and those seeking employment but currently unemployed.

Net Investment

The total amount spent on new capital assets minus the depreciation on existing capital assets.