The Scale of Measurement That Is Used to Rank Order

question 79

Multiple Choice

The scale of measurement that is used to rank order the observation for a variable is called the

• A)ratio scale
• B)ordinal scale
• C)nominal scale
• D)interval scale

Recognize the importance and implications of government expenditure on public goods and services.

Evaluate the impact of taxes on consumer choices and market outcomes.

Understand the role of taxes in addressing externalities and funding public services.

Identify the sources of government revenue and the biggest expenditure programs.

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Definitions:

Resource Demand Curve

A graphical representation that shows the relationship between the price of a resource and the quantity of that resource that is demanded.

Wage Rate

The amount of money paid to an employee per unit of time, such as an hour or a week.

Hiring Workers

The process of employing individuals to perform tasks or services for a business or organization in exchange for compensation.

Shoe Shine Parlor

A storefront or establishment specializing in the cleaning, conditioning, and polishing of shoes.