Finding a Small Value of the P-Value (E

question 2

Multiple Choice

Finding a small value of the p-value (e.g. less than 5%)

• A)indicates evidence in favor of the null hypothesis.
• B)implies that the t-statistic is less than 1.96.
• C)indicates evidence in against the null hypothesis.
• D)will only happen roughly one in twenty samples.

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Definitions:

Inventories

Goods that have been produced but remain unsold.

Production

The process of combining various material inputs and immaterial inputs (plans, know-how) in order to make something for consumption (the output).

Keynes

refers to John Maynard Keynes, a British economist whose theories on the causes of prolonged unemployment and recommendations for government intervention in economies to stimulate demand and control inflation have had a significant influence on modern macroeconomics.

Aggregate Supply

The total supply of goods and services that firms in a national economy plan to sell during a specific time period.