Related to the Economics in Practice on Page 35: the Results

question 159

Multiple Choice

Related to the Economics in Practice on page 35: The results of the survey conducted by Esther Duflo and Abhijit Banerjee found that in extremely poor societies,

• A) household choice plays no role in consumption decisions.
• B) all consumption decisions are made by the government.
• C) household choice even plays a role in non-food-related consumption decisions.
• D) the only consumption decisions in which household choice plays a role is in the consumption of biological needs such as food.

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Definitions:

Median

The middle value in a dataset when it is sorted in ascending order, or the average of the two middle values when the set is even.

Even Number

An even number is an integer that is exactly divisible by 2, such as 2, 4, 6, and so on.

Formula

A mathematical relationship or rule expressed in symbols.

Calculating Mean

The process of finding the average value of a set of numbers by adding them all up and dividing by the number of numbers.