Which of the Following Would Be an Expected Result of Substantially

question 135

Multiple Choice

Which of the following would be an expected result of substantially higher wages in the U.S. automobile industry?

• A) An increase in the real wages of workers outside the industry.
• B) An increase in the price of automobiles produced in the United States.
• C) A reduction in the demand for foreign-produced automobiles.
• D) An increase in the profit rate of U.S. automobile producers.

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Definitions:

Null Hypothesis

A default assumption that no difference or effect exists among groups being studied or variables being tested.

Test Statistic

A numerical value calculated from sample data, used in statistical hypothesis testing to determine the likelihood of a hypothesis.

Subjects Examined

The individuals or entities that are analyzed or tested in a study.