In the Early 2000s Car Sales in China Had Slowed

question 18

Multiple Choice

In the early 2000s car sales in China had slowed in part caused by the government's actions to limit businesses from lending funds to consumers. Assuming the car market in China can be analyzed with demand and supply curves, what best reflects the change in the market?

• A) Demand curve shifts to the left with no change in supply.
• B) Supply curve shifts to the left with no change in demand.
• C) Both the supply and demand curves shift to the left.
• D) Both the supply and demand curves shift to the right.

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Definitions:

Estimator

A statistic used to estimate the value of a population parameter.

Simple Linear Regression

A statistical method that models the relationship between a dependent variable and one independent variable by fitting a linear equation to observed data.

Confidence Interval

A range of values derived from sample data that is likely to contain the true value of an unknown population parameter, expressed at a given confidence level.

Total Winnings

The aggregate or combined amount of gains or earnings, often used in the context of gambling or competitions.