If And,Then Output Is Determined By

question 52

Multiple Choice

If
And
,then output is determined by:

• A)the total amount of labor in an economy.
• B)the total amount of capital in an economy.
• C)the total amount of capital and labor available in an economy.
• D)a percentage of capital and labor in an economy.
• E)Not enough information is given.

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Definitions:

Relative Frequency

The ratio of the number of times a specific value or event occurs to the total number of occurrences in a given dataset.

Population

The entire group of individuals or instances about whom the research is concerned.

Expected Value

The weighted average of all possible values a random variable can take on, with the weights being the probabilities of each outcome.

Loan Applications

Formal requests submitted by individuals or businesses to borrow money from financial institutions.