In Analyzing Macroeconomic Data During the Past Year,you Have Discovered

question 36

Multiple Choice

In analyzing macroeconomic data during the past year,you have discovered that average labor productivity fell,but total output increased.What was most likely to have caused this?

• A)There is nothing unusual in this outcome because this is what normally occurs.
• B)The capital-output ratio probably rose.
• C)There was an increase in labor input.
• D)Unemployment probably increased.

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Definitions:

Expected Frequencies

In statistics, these refer to the counts predicted by a probability model or hypothesis, used especially in the context of chi-squared tests.

Multinomial Experiment

An experiment that can result in one of more than two possible outcomes, where each outcome has a specific probability.

Binomial Experiment

A statistical experiment that has exactly two possible outcomes for each trial and a fixed number of trials.

Portfolio Managers

Professionals responsible for making investment decisions and overseeing the composition of investment portfolios.