A Change in Supply Cannot Be Caused by a Change

question 306

Multiple Choice

A change in supply cannot be caused by a change in:

• A) resource prices.
• B) technology.
• C) prices of other goods.
• D) the price of the good itself.
• E) the number of suppliers.

---

Definitions:

T-Tests

Statistical tests used to compare the means of two groups or the mean of one group against a known mean.

F-Test

A statistical test used to compare the variances of two populations to see if they are significantly different.

Multicollinearity

A statistical phenomenon in which two or more predictor variables in a multiple regression model are highly correlated, potentially distorting the model's coefficients.

Biased Estimates

Estimates that are systematically different from the population parameters being estimated, due to errors in data collection, analysis, or selection.