The Discovery and Utilization of Vast, Previously Unknown Oil and Mineral

question 135

Multiple Choice

The discovery and utilization of vast, previously unknown oil and mineral deposits in a country will increase:

• A)average labor productivity.
• B)the share of the population employed.
• C)the unemployment rate.
• D)the quantity of human capital.

Comprehend the rule of 5 for expected cell frequencies in contingency tables.

Understand the concept of degrees of freedom and its calculation for chi-squared tests.

Differentiate between dependent and independent events in probability.

Recognize the distinction between goodness-of-fit tests and tests for independence.

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Definitions:

Joint Stock Companies

Businesses owned by shareholders who contribute capital and share in the profits and losses.

Massachusetts Bay Company

A joint-stock trading company chartered in 1629 to establish a colony in New England; played a key role in the settlement and development of Massachusetts.

Dutch West India Company

A chartered company of Dutch merchants in the 17th century that established and directed trade throughout the Atlantic, including the slave trade and the settlement of New Netherland, now New York.

Powhatan

The leader of the Powhatan Confederacy, a network of tribal nations in what is now Virginia, who played a significant role in the early interactions between Native American peoples and English settlers in the 17th century.