If an Increase Occurs in the Demand for the Output

question 77

Multiple Choice

If an increase occurs in the demand for the output of industry A,we would expect all of the following to happen except:

• A)an increase in the profits of industry A.
• B)a decrease in prices of inputs used in the production of A.
• C)an increase in the output of industry A.
• D)an increase in the demand for inputs used in the production of A.

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Definitions:

Normal Distribution

A bell-shaped curve distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean.

Simple Random Sample

A portion of a broader statistical population where each member has an equal likelihood of selection.

Probability

The measure of the likelihood that an event will occur, expressed as a number between 0 and 1.

Compressive Strength

The capacity of a material or structure to withstand loads tending to reduce size, measured by the maximum stress it can withstand without fracture.