If an Economy Is in a Recession, with Output Below

question 57

Multiple Choice

If an economy is in a recession, with output below its full-employment level, a(n) _____ return the economy to its long-run equilibrium, which would cause the price level to_____

• A)expansionary; increase
• B)expansionary; decline
• C)contractionary; decline
• D)contractionary; increase

Formulate null and alternative hypotheses for the Wilcoxon test based on the difference in medians.

Recognize the conditions under which to use nonparametric methods.

Understand the relevance of sample size in approximating normal distribution for the rank sum statistic.

Apply the Wilcoxon signed rank test for matched pairs or related samples.

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