Most Economists Agree That Government Efforts in Economic Development Must

question 206

Multiple Choice

Most economists agree that government efforts in economic development must be

• A) employed to substitute for private efforts.
• B) designed to support private efforts.
• C) the sole driver of economic development.
• D) kept at a minimum because we can always rely on markets.

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Definitions:

Population Proportion

A measure that represents the fraction of members in a population that have a particular property or attribute.

Binomial Random Variable

A type of random variable that takes on a fixed number of trials, each with two possible outcomes.

Normal Curve

A symmetrical bell-shaped curve that describes the distribution of many types of data where most occurrences take place around the mean.

Continuity Correction

An adjustment made when approximating a discrete distribution with a continuous one, often applied in binomial and poisson distributions.