Which of the Following Is Correct

question 43

Multiple Choice

Which of the following is correct?

• A)There is consensus among economists that unions are good for the economy.
• B)There is consensus among economists that unions are bad for the economy.
• C)There is consensus among economists that,on net,unions have almost no impact on macroeconomic variables.
• D)There is no consensus among economists about whether unions are good or bad for the economy.

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Definitions:

Significance

The likelihood that an observed difference or relationship in data did not occur by chance, often measured through statistical tests.

Regression

A statistical method used to examine the relationship between a dependent variable and one or more independent variables.

Residuals

The differences between observed values and the values predicted by a statistical model, indicating the accuracy of the model's predictions.

Statistical Significance

Refers to the likelihood that a relationship between two or more variables is caused by something other than random chance.