If Potential Output Is Unknown

question 196

Multiple Choice

If potential output is unknown:

• A)we can still determine how the short-run aggregate supply curve will shift.
• B)factor prices are more likely to change.
• C)factor prices are less likely to change.
• D)we cannot determine precisely how the short-run aggregate supply curve will shift.

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Definitions:

Two-tail Tests

Hypothesis tests that consider extreme values in both tails of the distribution to evaluate the likelihood of observing a relationship by chance in either direction.

Likert Scale

A psychometric scale commonly used in questionnaires to represent people's attitudes, opinions, or perceptions, where responses range from one extreme to another.

Service Quality

The assessment of how well a delivered service conforms to the customer's expectations.

Significance Level

The threshold at which the results of statistical analysis are considered to indicate a statistically significant difference from the null hypothesis.