The Probability of a Particular Event Occurring,given That Another Event

question 30

Multiple Choice

The probability of a particular event occurring,given that another event has occurred,is known as a(n) ________.

• A)conditional probability
• B)empirical probability
• C)joint probability
• D)tree diagram

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Definitions:

Net Exports

The difference between a country's total exports of goods and services and its total imports of goods and services over a specified period.

Samuelson

Refers to Paul Samuelson, a prominent economist known for his contributions to many fields of economics.

Solow

Refers to the Solow-Swan model, an economic model of long-term economic growth set within the framework of neoclassical economics that illustrates how a country's level of capital stock, labor force, and technology can affect its total output or GDP.

Aggregate Demand

The aggregate request for every product and service within an economy at a specified time and price point.