An Economist Collects Data Comparing Per- Capita Expenditures on Health

question 85

Multiple Choice

An economist collects data comparing per- capita expenditures on health care across provinces and territories for the year 2009. The best way to illustrate this data is

• A)a logarithmic scale diagram.
• B)a time- series line graph.
• C)a scatter diagram.
• D)a time- series bar chart diagram.
• E)a cross- sectional bar- chart graph.

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Definitions:

Nonconforming Goods

Refers to products or goods delivered under a contract that fail to meet the specifications or standards agreed upon.

Acceptance

The act of agreeing to the terms of an offer, thus creating a binding contract between the parties.

Buyer

An individual or entity that purchases goods or services from a seller for money or other agreed consideration.

Liquidated Damages

Damages specified as a term of the contract before a breach of contract occurs.