In a Planned Economy

question 129

Multiple Choice

In a planned economy,

• A)prices are used to coordinate economic activity.
• B)central planners set production targets and tell producers how to produce.
• C)high prices discourage use of the most scarce resources.
• D)central planners allow the price to determine distribution of a product.

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Definitions:

Research Hypothesis

A statement suggesting a potential outcome or association that a study is designed to investigate, often proposing how two variables are related.

Null Hypothesis

An assertion that there is no significant difference or relationship between specified populations, groups, or variables.

FA

A statistical method, factor analysis, used to describe variability among observed, correlated variables.

Reject

In statistical analysis, the act of not accepting a hypothesis based on the evidence from data.