If an Economist Wishes to Determine Whether There Is Evidence

question 40

Multiple Choice

If an economist wishes to determine whether there is evidence that average family income in a community exceeds $50,000

• A) a two-tailed test should be utilised.
• B) either a one-tailed or two-tailed test could be used with equivalent results.
• C) a one-tailed test should be utilised.
• D) None of the above.

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Definitions:

Buyers

Buyers are those who acquire products or services for personal use or for resale, generating demand in the market.

Per-unit Tax

A tax that is levied on each unit of a product or service sold.

Buyers

Persons or organizations that buy products or services.

Sellers

Entities or individuals who make goods or services available for purchase by consumers or businesses.