The Recession of 2008-2009 Would Most Likely Be Represented in a Production

question 214

Multiple Choice

The recession of 2008-2009 would most likely be represented in a production possibilities frontier graph by

• A)movement to a point inside the frontier.
• B)movement to a point outside the frontier.
• C)movement to a point on the frontier.
• D)an increase in an intercept on either the vertical or the horizontal axis of the PPF.

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Definitions:

Probability

A measure of the likelihood that an event will occur, expressed on a scale from 0 (impossible) to 1 (certain).

Statistic

A numerical value derived from a sample that represents a feature of the population from which it was drawn.

Research Hypotheses

Research hypotheses are statements made by researchers that propose a relationship or difference between variables, to be tested through experimental or observational study.

Statistical Hypotheses

Statements made about the relationships between variables, specifically in terms of whether a statistical relationship exists in the population that can be tested.