An Event Consisting of Exactly One Outcome Is Called a Simple

question 2

True/False

An event consisting of exactly one outcome is called a simple event.

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Definitions:

Deflation

A decrease in the general price level of goods and services, often indicating an economic decline.

Consumers

Individuals or groups that purchase or use goods and services generated within the economy.

Retailers

Businesses or individuals engaged in the selling of goods or merchandise directly to consumers, typically in small quantities.

Cyclical Unemployment

The increase in unemployment that occurs during recessions and downturns in the economic cycle, typically resulting from a decreased demand for goods and services.