Which of the Following Is a Macroeconomic Statement

question 176

Multiple Choice

Which of the following is a macroeconomic statement?

• A)The gross profits of all Canadian businesses were $70 billion last year.
• B)The price of beef declined by 3 percent last year.
• C)General Motors' profits increased in 2012.
• D)The productivity of steelworkers increased by 1 percent in 2012.

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Definitions:

Control Limits

Statistical boundaries within a control chart that distinguish between random variation from the process and variation due to changes in the process.

Average Range

A statistical measure used to establish the central tendency or typical value of a set of numbers, calculated as the difference between the highest and the lowest values in a dataset.

X-bar

Another term for X-bar charts, it represents the mean value in a set of data as part of statistical quality control processes.

Sampling Distribution

The probability distribution of a given statistic based on a random sample, used to make inferences about the population.