Examlex
When the price of oil falls unexpectedly, the equilibrium price level ________ and the unemployment rate ________ in the short run.
P-Value
The probability of obtaining test results at least as extreme as the observed results, assuming that the null hypothesis is correct.
Hypotheses
Proposed explanations for a phenomenon, set forth as a starting point for further investigation or experimentation.
Normal Distribution
A bell-shaped distribution characterized by its mean and standard deviation, where the mean, median, and mode are all equal.
Normally Distributed
Refers to a distribution that follows the normal (bell-curve) shape, characterized by a symmetric shape around the mean, indicating random variables with equal mean, median, and mode.
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