A Standard Normal Distribution Is a Normal Distribution With

question 130

Multiple Choice

A standard normal distribution is a normal distribution with:

• A)a mean of zero and a standard deviation of one.
• B)a mean of one and a standard deviation of zero.
• C)a mean always larger than the standard deviation.
• D)None of these choices.

---

Definitions:

Producer Surplus

The difference between the amount producers are willing to accept for a good or service and the actual amount they receive, due to higher market prices.

Tax

A compulsory financial charge or levy imposed by a governmental organization in order to fund various public expenditures.

Price Elasticities

The responsiveness of the quantity demanded or supplied of a good to a change in its price.

Excise Tax

A tax charged on specific goods and services, such as tobacco and gasoline, intended to reduce their consumption or raise revenue.