Which of the Following Can Best Be Described as a Categorical

question 49

Multiple Choice

Which of the following can best be described as a categorical variable?

• A) Annual income
• B) Grade point average
• C) Height
• D) Gender

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Definitions:

Consumption

The process by which goods and services are used up by consumers, representing the end phase of the economic cycle.

Income

Financial gains, customarily on a constant basis, from vocational activities or investments.

Interest Rate

The percentage charged on a sum of money borrowed or earned on deposited funds over a period of time.

Utility Function

A representation in economics that shows the relationship between the utility (satisfaction) individuals receive from consuming goods and services and different consumption bundles.