A Common Assumption That Economists Make About the Behavior of Elected

question 152

Multiple Choice

A common assumption that economists make about the behavior of elected officials is that they try to

• A)maximize the size of their government salaries
• B)maximize the size of their control over the budget process
• C)maximize the number of votes they receive in the next election
• D)minimize the government's expenditures in order to balance the budget
• E)conform to the wishes of special interest groups so that the government behaves as a single, consistent decision maker

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Definitions:

One-way ANOVA

A statistical test used to compare the means of three or more independent groups on a single factor to determine if there is a significant difference among them.

F-ratio

A statistic used in ANOVA tests, calculated by dividing the variance between groups by the variance within groups.

Critical Value

A threshold in hypothesis testing, above or below which the null hypothesis is rejected, often associated with a specific significance level.

Degrees of Freedom

The measure of unique values or quantities that can be set for a statistical distribution.