The Aggregate Demand and Aggregate Supply Graph Has

question 33

Multiple Choice

The aggregate demand and aggregate supply graph has

• A)quantity of output on the horizontal axis.Output can be measured by the GDP deflator.
• B)quantity of output on the horizontal axis.Output can be measured by real GDP.
• C)quantity of output on the vertical axis.Output can be measured by the GDP deflator.
• D)quantity of output on the vertical axis.Output can be measured by real GDP.

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Definitions:

μ ≠ 3

Symbolic representation in hypothesis testing indicating that the population mean is not equal to 3, suggesting a two-tailed test.

Assumption

A basic condition that is accepted as true without proof in order to proceed with a calculation, argument, or analysis.

Non-directional Alternative Hypothesis

An alternative hypothesis that does not specify the direction of the expected difference or relationship, only that one exists.

Null Hypothesis

A hypothesis that states there is no statistical significance between two variables being studied.