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The student senate at a local university is about to hold elections.A representative from the women's sports program and a representative from the men's sports program must both be elected.Two candidates,an incumbent and a challenger,are vying for each position and early polling results are presented next.A hypothesis test must be performed to determine whether the percentages of supporting votes are different between the two incumbent candidates.In a sample of 100 voters,67 said that they would vote for the women's incumbent candidate.In a separate sample of 100 voters,55 said they would vote for the men's incumbent candidate.Let p1 and p2 be the proportions of supporting votes for the incumbent candidates representing women's and men's sports programs,respectively.Which of the following are the competing hypotheses to determine whether the percentages of supporting votes are different between the two incumbent candidates?
Spending Multiplier
The ratio of the change in total output induced by an autonomous change in aggregate spending to the size of that autonomous change.
Output Changes
This term refers to variations in the level of production or output in an economy over a specific period.
Aggregate Demand Curve
A graphical representation showing the relationship between the total demand for all goods and services in an economy and the overall price level.
Expansionary Gap
A situation where the actual level of output in an economy exceeds the potential output level, usually characterized by high demand and inflationary pressures.
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