In the Middle of 2009, ________; by February 2010, ________

question 24

Multiple Choice

In the middle of 2009, ________; by February 2010, ________.

• A) over 8 million jobs were lost; short-run output bottomed out at over -6 percent
• B) short-run output bottomed out at below -7 percent; over 8 million jobs were lost
• C) inflation was 5 percent; the unemployment rate was 12 percent
• D) the federal funds rate was 5 percent; it had fallen to 1 percent
• E) unemployment fell to 8 percent; home sales were rising steadily

---

Definitions:

Standard Error

A statistic that measures the dispersion or variability of a sampling distribution, often used in estimating parameters.

Confidence Interval

A range of values that is used to estimate the true value of a population parameter with a certain level of confidence.

Population Standard Deviation

A measure of the dispersion of a set of data from its mean, calculated for the entire population.

Confidence Interval

A statistical range, with a given probability, that contains the true parameter of the population.