The Unintended Consequences of an Economic Change That Are Not

question 34

Multiple Choice

The unintended consequences of an economic change that are not immediately identifiable but are felt only with time are known in economics as

• A) opportunity costs.
• B) marginal effects.
• C) secondary effects.
• D) scarcity constraints.

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Definitions:

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating the spread of data points.

Sampling Distribution

The distribution of probabilities for a certain statistic, originating from a random sample.

Normal Distribution

In this type of distribution, occurrences of data are more frequent near the mean and decrease in frequency as they move away from the mean, with the distribution being symmetric.

Sampling Distribution

The probability distribution of a statistic based on random samples from a population, used to estimate population parameters.