If you are using a 95% confidence interval and the absolute value of the t-statistic is larger than the critical value, then
A) we accept the null hypothesis at a 95% confidence level.
B) we reject the null hypothesis at a 95% confidence level.
C) we will be wrong less than 5% of the time if we accept the null hypothesis.
D) we will be wrong 95% of the time if we reject the null hypothesis.
B
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If aggregate quantity supplied exceeds aggregate quantity demanded, we can expect an unplanned
a. depletion of inventories, causing firms to raise prices. b. depletion of inventories, causing firms to lower prices. c. accumulation of inventories, causing firms to raise prices. d. accumulation of inventories, causing firms to lower prices.
A consumer with a limited income will maximize utility when each good is purchased in amounts such that the
A. marginal utility of each good in a bundle is maximized. B. total utility is the same for each good in a bundle. C. marginal utility per dollar spent on each of the final choices in a bundle is equal. D. marginal utility per dollar spent on each of the final choices in a bundle is maximized for each good.