If an Improvement in the Quality of Education in the United

question 87

Multiple Choice

If an improvement in the quality of education in the United States increases the productivity of labor, this will

• A) increase aggregate demand and decrease aggregate supply.
• B) increase short-run aggregate supply and reduce aggregate demand.
• C) decrease aggregate demand and increase short-run aggregate supply.
• D) increase both long-run and short-run aggregate supply.

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Definitions:

Unemployment Rate

The percentage of the labor force that is jobless and actively seeking employment.

Confidence Interval

A spectrum of numerical figures, from sample statistics, judged to potentially include the value of an unknown population attributive.

P-value

A statistical measure that helps to determine the significance of results obtained in hypothesis testing, indicating the probability of observing the results if the null hypothesis were true.

P-value

The probability of observing a statistic at least as extreme as the one observed, under the assumption the null hypothesis is true.