According to ______________,If You Suddenly Won the Lottery,you Would Spend

question 240

Multiple Choice

According to ______________,if you suddenly won the lottery,you would spend only a small part of your winnings right away.

• A)the paradox of thrift
• B)the permanent income hypothesis
• C)Thorstein Veblen's Theory of the Leisure Class
• D)the theory of the multiplier

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Definitions:

Instructions

Directives or commands that are followed to achieve a particular end, often detailed steps on how to complete a task or operate something.

Significance Level

The probability of rejecting the null hypothesis in a statistical test when it is actually true, typically denoted by alpha.

Rule of Five

A statistical rule of thumb asserting that normal approximation can be used if an expected frequency is 5 or more in all categories of a binomial distribution.

Chi-squared Goodness-of-fit Test

A statistical test to determine if observed data deviates significantly from the expected distribution.