Figure 2-2 -Refer to Figure 2-2.If the Owners of Land,labor,and Capital Are

question 121

Multiple Choice

Figure 2-2
-Refer to Figure 2-2.If the owners of land,labor,and capital are represented by Box B of this circular-flow diagram,then

• A)households are represented by Box A.
• B)firms are represented by Box C.
• C)firms are represented by Box A.
• D)firms are sellers in Box B.

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Definitions:

Test Statistic

A test statistic is a value calculated from sample data during a hypothesis test. It's compared to a critical value to decide whether to reject the null hypothesis.

μ

The symbol for the mean or average of a set of data points in statistics.

Population Standard Deviation

A measure of the dispersion of a set of data points in a population away from its mean.

Sample Mean

The average of a set of values from a sample of a population, used to estimate the population mean.