Use the Following to Answer Questions

question 211

Multiple Choice

Use the following to answer questions:
Figure: Production Possibility Frontier Curve for Tealand
-(Figure: Production Possibility Frontier for Tealand) Look at the figure Production Possibility Frontier for Tealand. If Tealand is producing 10 million scones and 10 million cups of tea (point A) , we know that the economy:

• A) is using its resources efficiently.
• B) is using its resources inefficiently.
• C) is fully employing its resources.
• D) has found new resources.

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Definitions:

Sign Test

A non-parametric test used to determine if there are differences between two dependent samples or repeated measurements on a single sample.

Nonzero Differences

This term refers to the count or instances where differences or changes between data points or values are not equal to zero.

Wilcoxon Rank Sum

is a non-parametric test used to compare two independent samples to assess whether their population mean ranks differ.

Population Distributions

The spread of a characteristic within a whole population, reflecting how frequently different values occur.