If Total Spending Rises from One Year to the Next

question 167

Multiple Choice

If total spending rises from one year to the next, then

• A)the economy must be producing a larger output of goods and services.
• B)goods and services must be selling at higher prices.
• C)either the economy must be producing a larger output of goods and services, or goods and services must be selling at higher prices, or both.
• D)employment or productivity must be rising.

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Definitions:

Effect Size

A quantitative measure of the magnitude of the difference between groups or the size of a relationship between variables.

Analysis of Variance

Analysis of variance (ANOVA) is a statistical method used to compare the means of three or more groups to determine if there are significant differences between them.

Test Statistic

A value calculated from sample data during a hypothesis test, used to make a decision about the relationship between variables or the acceptance of a hypothesis.

Test Statistic

A standardized value derived from sample data during a hypothesis test that is used to determine whether to reject the null hypothesis.