All of the Following Will Cause a Shift in the Supply

question 445

Multiple Choice

All of the following will cause a shift in the supply of jeans EXCEPT

• A) a decrease in the prices of jeans.
• B) an increase in the cost of producing jeans.
• C) a per-unit government subsidy on the production of jeans.
• D) a decrease in the number of jean manufacturers.

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Definitions:

Goodness-of-Fit Test

A statistical test used to determine if observed data match the expected distribution of a model.

Flu Vaccine

A vaccine designed to protect against influenza viruses, typically reformulated annually to combat the most common circulating strains.

Test Statistic

A value calculated from sample data during a hypothesis test that is used to determine whether to reject the null hypothesis.

P-value

A measure in statistical hypothesis testing representing the probability of obtaining test results at least as extreme as the results actually observed, under the assumption that the null hypothesis is true.