Only a Change in the Price Level Can Cause Shifts

question 30

True/False

Only a change in the price level can cause shifts in both the aggregate expenditure line and the aggregate demand curve.

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Definitions:

Null Hypothesis

A hypothesis that assumes no significant difference or effect, serving as a default position until evidence indicates otherwise.

Pearsons Correlation

A measure of the linear correlation between two variables X and Y, giving a value between +1 and -1 inclusive, where 1 is total positive linear correlation, 0 is no linear correlation, and −1 is total negative linear correlation.

Ranks Of Data

The order of data points based on their value, usually from smallest to largest, used in non-parametric statistical analyses.

Pearson's Correlation

A measure of the linear correlation between two variables, ranging from -1 to +1.