Observational Data Refer to

question 57

Multiple Choice

Observational data refer to

• A) facts and figures newly collected for the project at hand.
• B) facts and figures obtained by asking people questions either through personal interviews, panel discussions, or questionnaires.
• C) facts and figures obtained by watching, either mechanically or in person, how people actually behave.
• D) facts and figures that have already been recorded from multiple sources before the project.
• E) conclusions developed from information obtained from a representative sample of a population.

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Definitions:

MPS

Marginal Propensity to Save, which is the fraction of an increase in income that is not spent on an increase in consumption.

Disposable Income

Funds that households can direct towards their saving and spending ambitions after income taxes are accounted for.

Consumption

The portion of income spent on goods and services rather than saved.

Billion

A number equivalent to one thousand million (1,000,000,000) or, in some number systems, a million million (1,000,000,000,000).