If the Labor Force in an Economy Is Not Fully

question 123

Multiple Choice

If the labor force in an economy is not fully employed,then

• A) the economy is operating outside of its production possibilities frontier
• B) the economy is operating on its production possibilities frontier
• C) there must have been an increase in technology to compensate for the labor shortage
• D) the opportunity cost of producing more of one good is negative
• E) the economy is operating inside its production possibilities frontier

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Definitions:

Null Hypothesis

A hypothesis that there is no significant difference or effect, used as a starting assumption in statistical testing.

Number of Groups

Refers to the total distinct categories or assemblies into which data or subjects are sorted for analysis in a study.

Number of Groups

Refers to the count of distinct categories or clusters into which the subjects or data points in a study are divided for analysis.

Critical Value

A point on the scale of the test statistic beyond which we reject the null hypothesis.