Nonconsumption Spending Accounts for Roughly What Percent of Total Output

question 155

Multiple Choice

Nonconsumption spending accounts for roughly what percent of total output of goods and services?

• A)20% 
• B)30% 
• C)40% 
• D)60%

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Definitions:

Posterior Probability

The probability of an event or hypothesis being true after taking into consideration new evidence or information.

Prior Probability

The probability of an event or hypothesis before new evidence is taken into account.

Bayes' Law

A theorem in probability theory used to update the probability of a hypothesis as more evidence or information becomes available.

Posterior Probability

The probability of an event or hypothesis after taking into consideration new evidence or information.