There Is an Election Coming Up A)Outcome a
B)Outcome B
C)Outcome C
D)Outcome D

question 23

Multiple Choice

There is an election coming up.Conservatives are currently in government,and will be able to raise more money for the next federal election if they keep inflation and unemployment low.Conservatives can persuade firms whether or not to raise prices;Liberals can persuade the Bank whether or not to increase the money supply.The amount of money raised by each party and the resulting inflation and unemployment rates are given below.If the Liberals can move first,what will be the outcome of this game?
$$\begin{array} { l l l } & \text { Raise prices } & \text { Don't raise prices } \\\hline \text { Conservative strategy } & \text { Outcome } \mathrm { A } & \text { Outcome B } \\\text { Raise } M & \text { Cons.: } \$ 40 & \text { Cons.: \$80 } \\& \text { Libs.: } \$ 60 & \text { Libs.: } \$ 20 \\& \pi = 8 \% & \pi = 0 \% \\& u = 8 \% & u = 6 \% \\\text { Liberal Strategy } & \text { Outcome } \mathrm { C } & \text { Outcome } \mathrm { D } \\\text { Don't raise } & \text { Cons.: } \$ 20 & \text { Cons.: } \$ 60 \\M & \text { Libs.: } \$ 80 & \text { Libs.: } \$ 40 \\& \pi = 8 \% & \pi = 0 \% \\u = 9 \% & u = 8 \% \\\hline\end{array}$$

• A)Outcome A
• B)Outcome B
• C)Outcome C
• D)Outcome D

Understand the concept and importance of standard error in statistical inference.

Grasp the principles of probability sampling techniques.

Understand how sample size affects variability and distribution of sample means.

Learn the importance and characteristics of population types in statistical studies.

---

Definitions:

Personal Property Security Act

Legislation that provides for the creation and registration of security interests in personal property to secure payment or performance of an obligation.

Bankruptcy

A legal process for individuals or entities that are unable to repay their outstanding debts, providing a mechanism for dealing with financial insolvency.

Fraudulent Transfer

A debtor’s transfer of property in an attempt to keep it out of the hands of creditors; not a valid sale at a fair price to an innocent third party.

Bona Fide Purchaser

A person who acquires property in good faith and without awareness of any defects or problems with the title.