Which Statement About Economics Is CORRECT

question 1

Multiple Choice

Which statement about economics is CORRECT?

• A) Economists do not believe that criminals behave rationally.
• B) Economics has little to say about social issues.
• C) Economists consider how rational people respond to incentives.
• D) Economists assume that people don't respond to incentives.

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Definitions:

Sample Value

A single measurement or observation from a larger set of data collected from a population.

Significant Difference

A statistical measure indicating that the observed differences between two or more groups are not likely due to chance.

Standard Error

An estimate of the standard deviation of the sampling distribution of a statistic, often used in inferential statistics.

Sample Size

The number of observations or data points collected in a sample, which can influence the reliability and validity of statistical analyses.