U.S. Business Cycles Since 1950 Have Shown

question 47

Multiple Choice

U.S. business cycles since 1950 have shown

• A) expansions to be just as lengthy as recessions.
• B) expansions to be longer than recessions.
• C) expansions to be shorter than recessions.
• D) stable unemployment rates.

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Definitions:

Monokurtic

Describing a distribution that has kurtosis similar to that of a normal distribution, indicating the data has moderate outliers or none, and the peak of the distribution is neither flat nor too sharp.

Standard Error

For a sampling distribution (the distribution of scores for a sample), the standard deviation is called the standard error.

Positive Skew

A distribution pattern in data where the tail on the right side of the histogram is longer or fatter than the left side, indicating that the majority of data points lie to the left of the mode.

Chi-square

A statistical test used to determine if there is a significant association between two categorical variables.