Prior to the Great Recession of 2007-2009, Labor Input in the United

question 96

Multiple Choice

Prior to the Great Recession of 2007-2009, labor input in the United States was growing at nearly

• A)1 percent per year
• B)2 percent per year.
• C)2.5 percent per year.
• D)3 percent per year.

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Definitions:

Sample Proportion

The fraction or percentage of the sample that represents a particular trait or characteristic.

Confidence Interval

An interval of values, obtained from the analysis of sample data, which is probable to include the value of an unspecified population parameter, within a given level of certainty.

Population Proportion

The ratio of members in a population that have a particular characteristic to the total number of members in the population.

Confidence Level

A measure of how likely it is that a statistical estimate is correct, often expressed as a percentage indicating how confident one can be in the result.