Suppose the Country of Dingo Experienced an Economic Trough in January

question 30

Multiple Choice

Suppose the country of Dingo experienced an economic trough in January 2017. We can conclude that

• A) real GDP in Dingo was increasing in January 2017.
• B) an expansion occurred after January 2017.
• C) Dingo did not experience a recession in 2016.
• D) Dingo's potential GDP fell in 2017.

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Definitions:

Confidence Interval

A continuum of values from statistical sample analyses, speculated to contain the value of a population parameter that is not known.

Null Hypothesis

A statistical hypothesis that assumes no significant difference or effect exists between certain characteristics of a population or data set.

Level Of Significance

The probability criterion used for rejecting the null hypothesis, a critical boundary for determining statistical significance in testing.

Level Of Significance

A threshold in hypothesis testing that determines whether the null hypothesis can be rejected.