Most Economists Agree That the Immediate Determinant of the Volume

question 118

Multiple Choice

Most economists agree that the immediate determinant of the volume of output and employment is the

• A) composition of consumer spending.
• B) ratio of public goods to private goods production.
• C) level of total spending.
• D) size of the labor force.

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Definitions:

T Value

A statistic used in hypothesis testing to determine if there is a significant difference between two groups.

Test Statistic

A value calculated from sample data that is used in a hypothesis test to determine whether to reject the null hypothesis.

Degrees Of Freedom

The number of independent values or quantities which can be assigned to a statistical distribution or calculation.

Null Hypothesis

A hypothesis stating there is no significant difference or effect, serving as the default assumption in hypothesis testing.