Which of the Following Is Concerned with the Distribution Part

question 122

Multiple Choice

Which of the following is concerned with the distribution part of resource allocation?

• A)An economy decides to produce equal quantities wheat, rice, and clothes.
• B)An economy decides to use 25 percent of the available capital for producing clothes.
• C)An economy decides to ration 40 percent of its output to low income groups.
• D)An economy decides to use more labor for producing wheat and rice.

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Definitions:

Null Hypothesis

A hypothesis that assumes no significant difference or effect exists between certain datasets or variables.

Level of Significance

The threshold chosen by the researcher below which a p-value indicates that the observed result is statistically unlikely to have occurred by chance.

Expected Frequency

The predicted number of times an event will occur over a specified period in a statistical experiment.

Cramér's V

Cramér's V is a measure of association between two nominal variables, giving a value between 0 and 1 to indicate the strength of the relationship.