If Smith Will Give Up Three Units of Y to Get

question 112

Multiple Choice

If Smith will give up three units of Y to get one additional unit of X, then

• A)he has transitive preferences.
• B)his budget constraint is upward sloping.
• C)his indifference curve is downward sloping.
• D)the price of X must be three times as high as the price of Y.

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Definitions:

Repeated Measures

Refers to experiments or tests in which the same subjects are tested under multiple conditions or at multiple time points.

Dependent-Samples T Test

A statistical test used to compare the means of two related groups or conditions to determine if there are statistically significant differences between them.

Average Score

The numerical average obtained by dividing the sum of all scores by the number of scores.

T Test

A statistical analysis method that evaluates if there's a significant difference between the average values of two distinct groups.