While the Gamma Statistic Has Other Problems,which of the Answers

question 1

Multiple Choice

While the Gamma statistic has other problems,which of the answers below is an advantage of Gamma:

• A)expressly designed for 2 X 2 tables
• B)it uses interval level data
• C)it calculates asymmetric relationships
• D)it has a PRE interpretation

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Definitions:

Consumer Surplus

The gap highlighting the difference between the sum consumers intend to pay and what they actually fork out for a good or service.

Supply Curve

A graphical representation showing the relationship between the price of a product and the quantity of the product that suppliers are willing to sell.

Total Surplus

The sum of consumer surplus and producer surplus, representing the total benefit to society from the production and trade of goods and services.

Consumer Surplus

The difference between the total amount consumers are willing to pay for a good or service and the total amount they actually pay; a measure of consumer benefit.