Examlex
If the income-expenditure multiplier equals 4 and a 1 percentage point increase in the real interest rate reduces autonomous spending by 100 units, then a 1,000 unit recessionary gap can be eliminated by ______ the real interest rate by ______ percentage points.
Auto Manufacturers
Companies involved in the design, production, marketing, and selling of motor vehicles.
Critical Value
A threshold in hypothesis testing that determines the boundary for rejecting the null hypothesis.
P-value
The probability of obtaining an observed value of a test statistic, or more extreme, assuming that the null hypothesis is true.
Level of Significance
A threshold in hypothesis testing that determines the probability of rejecting a null hypothesis when it is actually true, often denoted by alpha.
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