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The dynamic aggregate demand and aggregate supply model assumes that potential GDP increases over time.
Level of Significance
Represents the critical value that delineates the boundary for rejecting the null hypothesis in hypothesis testing.
Power of Test
The probability that a statistical test will correctly reject a false null hypothesis, a measure of a test’s ability to detect an effect when there is one.
Specified Value
A particular or defined value, often set as a criterion or standard.
Null Hypothesis
A hypothesis in statistics that assumes there is no significant difference or effect and serves as the default assumption in a hypothesis test.
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