Which of These Would Have the Greatest Impact on Output

question 80

Multiple Choice

Which of these would have the greatest impact on output in a country based on the production function: output = A × f(L, K, H, N) ?

• A) a 5% increase in entrepreneurial ability and technology
• B) a 5% increase in the level of human capital
• C) a 5% increase in the amount of land
• D) a 5% increase in the amount of capital

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Definitions:

Fisher's Exact Test

A statistical significance test used to examine the association between two categorical variables in a contingency table, especially useful for small sample sizes.

Yates' Correction

A statistical adjustment made to the chi-squared test for small sample sizes, to better approximate the chi-squared distribution.

Expected Frequencies

The predicted counts of occurrences across different categories or intervals that one would expect by chance.

Fisher's Exact Test

A statistical significance test used to determine if there are nonrandom associations between two categorical variables, often employed when sample sizes are small.