In the Long-Run,increased National Saving Must

question 22

Multiple Choice

In the long-run,increased national saving must
I: increase total labour income in a closed economy.
II: increase total labour income in a small open economy.

• A) I is true; II is not.
• B) II is true; I is not.
• C) Both I and II are true.
• D) Neither I nor II is true.

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Definitions:

Null Hypothesis

A default assumption that there is no significant difference or effect, to be tested against an alternative hypothesis in statistical testing.

Mean Yields

The average outcomes produced or returns obtained from different experiments or investments.

Test Statistic

A measure calculated from sample data to make inferences about a population parameter.

Rejection Region

The range of values for which the null hypothesis is rejected in a hypothesis testing scenario.