The Supply of Real GDP Is a Function of

question 81

Multiple Choice

The supply of real GDP is a function of

• A)the total expenditures of consumers, investors and government.
• B)the quantities of labour, capital and the state of technology.
• C)only the state of technology.
• D)the sum of wages, salaries, corporate profits, rents and interest.

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Definitions:

Correlational Studies

Correlational studies are research methods that examine the relationship between two or more variables to determine if a statistically significant association exists, without inferring cause and effect.

Correlation

A statistical measure that indicates the extent to which two variables fluctuate together, without necessarily implying causation.

Independent Variable

The variable in an experiment that is manipulated or changed by the researcher to investigate its effect on the dependent variable.

Dependent Variable

The variable in an experiment that is expected to change as a result of manipulations to the independent variable.