If an Economist Wishes to Determine Whether There Is Evidence

question 20

Multiple Choice

If an economist wishes to determine whether there is evidence that mean family income in a community exceeds $50,000

• A)either a one-tail or two-tail test could be used with equivalent results.
• B)a one-tail test should be utilized.
• C)a two-tail test should be utilized.
• D)None of the above.

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Definitions:

Smoking Habits

Patterns or behaviors related to the consumption of tobacco products, including the frequency and amount of usage.

Complements

Goods that are used together, where an increase in the demand for one leads to an increase in demand for the other.

Inferior Good

A type of good for which demand decreases as the income of the consumer increases.

Inferior Good

A type of good whose demand decreases when consumer incomes increase.