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According to the Great Moderation Consensus, the Effectiveness of Economic

question 106

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According to the Great Moderation consensus, the effectiveness of economic policy is limited by the political business cycle.


Definitions:

Bell Shaped Histograms

Histograms showing the frequency distribution of data that forms a symmetrical, bell-shaped curve, indicating a normal distribution.

Histograms

Graphical representations of the distribution of numerical data, showing the frequency of data within certain ranges.

Empirical Rule

A statistical norm that asserts for a normally distributed set of data, almost all of the data points are encompassed within three standard deviations from the mean value.

Sample Variance

The measure of dispersion of sample data points around the sample mean, providing an estimation of the population variance.

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