If We Were to Know Not Only the Order of Finish

question 131

Multiple Choice

If we were to know not only the order of finish of the cars at the Indianapolis "500", but also the actual elapsed times for each car, the data form would be

• A) at least nominal
• B) at least ordinal
• C) at least interval
• D) none of these

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Definitions:

Product Market

The marketplace in which final goods or services are offered to consumers, businesses, and the public sector.

Labor

The human effort, both physical and mental, that is used to produce goods and services.

Consumer Spending

The total amount of money spent by households and individuals in an economy on goods and services, an important indicator of economic health.

Consumption Expenditures

The total amount of money spent by households and individuals on goods and services for personal use.