A Number That Describes Numerical Data Is A

question 24

Multiple Choice

A number that describes numerical data is a:

• A) graph
• B) statistic
• C) pie chart
• D) table

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Definitions:

Usury Law

A legal regulation that limits the maximum interest rate that can be charged on loans, designed to protect consumers from exorbitant rates.

Market Equilibrium

The state in which the supply of an item matches its demand, resulting in a stable price for the item.

Interest Rate

The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage.

Equilibrium Interest Rate

The interest rate at which the quantity of money demanded equals the quantity of money supplied, balancing savings and investment.