The Field of Macroeconomics Was Considered an Extension of Microeconomics

question 21

True/False

The field of macroeconomics was considered an extension of microeconomics prior to the Great Depression.

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Definitions:

Population Mean

The average value of all the members of a population.

P-Value

The probability of observing results at least as extreme as those in a data set, given that the null hypothesis is true.

Hypothesis Testing

A statistical method used to decide whether a hypothesis about a parameter in a population is supported by the data gathered from a sample.

Test Statistic

A numerical value employed in statistical hypothesis testing for deciding if the null hypothesis should be discarded.