Histograms Are Typically Used to Depict _____, Whereas Bar Graphs

question 26

Multiple Choice

Histograms are typically used to depict _____, whereas bar graphs are typically used to depict _____.

• A) scale data; nominal data
• B) nominal data; interval data
• C) means; frequencies
• D) interval data; scale data

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Definitions:

Substitution Effect

The change in the consumption pattern of goods due to a change in relative prices, holding the level of utility constant.

Output Effect

The change in total output resulting from a change in input quantities or the introduction of new processes or technologies in the production.

Price of Capital

The cost of using capital goods, such as equipment or buildings, which is often reflected in interest rates or rental charges.

Complementary to Labor

Refers to technology or tools that enhance the productivity of workers, increasing output.