If a Household Consumes One Less Unit in Period 1

question 33

Multiple Choice

If a household consumes one less unit in period 1, they can consume:

• A)on more unit in period two.
• B)(1 + i) more units in period two.
• C)one less unit in period two.
• D)no more in period two.

---

Definitions:

T Procedure

A statistical method used to determine the significant differences between two groups of data when the variances of two normal distributions are not known.

T Statistic

A type of statistic used in hypothesis testing, derived from the standardized difference between a sample mean and a hypothesized value of the population mean.

One-sample Z Statistic

A statistical measure used to determine how many standard deviations a single sample mean deviates from the population mean, assuming the population variance is known.

One-sample T Statistic

A statistical measure used to compare the mean of a single sample to a known or hypothesized population mean.