If We Are Interested in Testing Whether the Mean of Items

question 108

Multiple Choice

If we are interested in testing whether the mean of items in population 1 is significantly smaller than the mean of items in population 2, the

• A) null hypothesis should state μ1- μ2 < 0
• B) null hypothesis should state P1 - P2 ≥ 0
• C) alternative hypothesis should state P1 - P2 > 0
• D) alternative hypothesis should state μ1- μ2 < 0

Understand the concept of the short-run aggregate supply curve and its characteristics.

Explain the relationship between price levels and output in the short-run.

Identify factors that cause movements along the short-run aggregate supply curve.

Describe conditions that lead to shifts in the short-run aggregate supply curve.

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