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答案和详解如下:

Question 31 

The correct answer was C) Reject the null hypothesis and conclude that a is significantly different than b. 

When the calculated Z > the critical Z (4.1 > 2.58), the null hypothesis should be rejected and the conclusion is made that a is not equal to b. 

This question tested from Session 3, Reading 11, LOS a, (Part 1)

 

Question 32 

The correct answer was B)

The estimator is unbiased because the expected value of the sample mean is equal to the population mean. The estimator is efficient because the variance of the sampling distribution is smaller than that for other estimators of the parameter.

The estimator is not consistent. To be consistent, as the sample size increases, the standard error of the sample mean should fall and the sampling distribution will be centered more closely on the mean. A consistent estimator provides a more accurate estimate of the parameter as the sample size increases. 

This question tested from Session 3, Reading 10, LOS g

 

Question 33 

The correct answer was A) inflation, expected inflation and nominal interest. 

Higher rates of money supply growth will lead to higher rates of inflation, higher rates of expected inflation, and higher nominal interest rates in the long run. 

This question tested from Session 6, Reading 26, LOS f

 

Question 34 

The correct answer was C) long-run average total cost curve. 

The long-run average total cost curve indicates economies of scale in any output range where it slopes down and diseconomies of scale in any output range where it slopes up. Short-run cost curves are drawn assuming a constant scale of production. All costs are variable in the long run, so there is no long-run average fixed cost curve. 

This question tested from Session 4, Reading 17, LOS d, (Part 2)

 

Question 35 

The correct answer was D) 

Yes NoExpansionary monetary policy is one of the policy alternatives Keynesians recommend for moving an economy out of recession. Monetarists, on the other hand, believe business cycles can best be stabilized by keeping money supply growth steady and predictable. 

This question tested from Session 5, Reading 23, LOS d

 

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