If Products Were in Short or Surplus Supply in the Soviet

question 7

Multiple Choice

If products were in short or surplus supply in the Soviet Union,

• A)price and profit signals eliminated those shortages and surpluses.
• B)price and profit signals intensified those shortages and surpluses.
• C)producers would not react because no price or profit signals occurred.
• D)the planners would immediately adjust production to achieve equilibrium.

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Definitions:

Wilcoxon Signed-Rank Test

A non-parametric test that compares two related samples or matched pairs to assess whether their population mean ranks differ.

Test Statistic

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

Critical Value

A critical value is a threshold or cut-off value that defines regions where the test statistic leads to the acceptance or rejection of the null hypothesis in hypothesis testing.

Frequency Distributions

A statistical analysis tool that shows how often each different value in a set of data occurs, often illustrated as a table or graph.