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Unformatted text preview: particular income rank. 6. Is efficiency in distribution violated when efficiency in production is violated? Explain. Yes. When production efficiency is violated, total output falls. When total output falls, some people are worse-off. 7. In evaluating regression outputs, what is the null hypothesis when we evaluate the statistical significance of an estimated coefficient? In regressions analysis, the null hypothesis states that the estimated coefficient equals to zero: b=0....
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This note was uploaded on 02/20/2010 for the course ECON 4230 taught by Professor Erdal during the Fall '09 term at Georgia State.
- Fall '09