The test statistic and p-value of the given data are 6.274 and 0.0001 respectively.
<h3>Test Statistic</h3>
The test statistic can be calculated using the formula below
Solving for the mean and standard deviation, we can substitute the values into the above equation which will be
<h3>P-Value</h3>
Using the data from the test statistic, we can calculate the p-value of the data
From the calculation above, the test statistic and p-value of the given data are
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Hope I wrote this clearly
Answer: Option (c) is correct
Step-by-step explanation:
Slope of demand curve is negative and slope of supply curve is positive in both the models.
But labeling of axis is different in both the models. In the short-run macroeconomic model, y-axis represents the price level whereas x-axis represents the GDP.
While in the standard model for markets, y-axis shows the general price level whereas x-axis represents the output level.
Answer:
Opposite the 60-degree angle.
Step-by-step explanation:
