The ________ Is Always the Hypothesis That Is Tested,but Can

question 62

Multiple Choice

The ________ is always the hypothesis that is tested,but can never be accepted based on a single test.

• A) alternative hypothesis
• B) random hypothesis
• C) null hypothesis
• D) standardized hypothesis
• E) incidence of difference

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Definitions:

Natural Rate

The long-term unemployment rate that is observed once the effect of short-term cyclical factors has been removed, considered to be the rate of unemployment consistent with a stable rate of inflation.

Short-run Phillips Curve

A curve illustrating the inverse relationship between the rate of inflation and the rate of unemployment in an economy for a short-term period.

Expected Inflation

The rate at which consumers, businesses, and investors expect prices to rise over a future period.

Long-run Phillips Curve

The long-run Phillips Curve is an economic concept that illustrates the relationship between inflation and unemployment, suggesting that in the long run there is no trade-off between these two factors.