If Changing Consumer Preferences Increase the Demand for Consumer Electronics

question 566

Multiple Choice

If changing consumer preferences increase the demand for consumer electronics and decrease the demand for wool clothing,the economy will likely exhibit

• A) an increase in the natural rate of unemployment.
• B) a decrease in the natural rate of unemployment.
• C) frictional unemployment.
• D) efficiency wages.

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Definitions:

Naturalistic Observation

A research method where subjects are observed in their natural environment without any manipulation or intervention by the researcher.

Laboratory Experiment

An experimental research method in which variables are controlled and manipulated in a lab setting to observe the effects on another variable.

Correlational Techniques

Statistical methods used to determine the relationship or association between two variables.

Statistically

Pertaining to the use of or determined through statistics.