A Free Market System Tends to

question 114

Multiple Choice

A free market system tends to

• A)produce a fairly equal distribution of income.
• B)pay people exactly what they are worth.
• C)produce a relatively unequal distribution of income.
• D)pay most people more than they are worth, at the expense of reducing firms' profits.

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Definitions:

Sample Mean

The average of all the data points in a sample, used as an estimate of the population mean.

Square Root

The square root of a number is a value that, when multiplied by itself, gives the original number.

P < 0.05

A statistical threshold indicating that the observed results are significant with a probability of less than 5% being due to chance.

Obtained Value

The actual value measured or computed from a data set or experiment, often compared against a theoretic or critical value in hypothesis testing.