The Following Table Identifies the Real Value of Exports,imports,and Gross

question 143

Multiple Choice

The following table identifies the real value of exports,imports,and gross domestic product (GDP) for the U.S.economy,measured in billions of dollars for a series of years.Use the table to answer the following questions:

-According to the table,across the 60-year period,the real value of imports ________ and the real value of imports as a percentage of GDP ________.

• A) increased; decreased
• B) increased; increased
• C) increased; fluctuated up and down
• D) decreased; increased
• E) fluctuated up and down; fluctuated up and down

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Definitions:

Descriptive Statistics

Descriptive statistics involve statistical techniques that summarize or describe the main features of a collection of data, including measures like mean, median, and mode.

Mean, Median, Mode

Statistical measures where mean is the average value, median is the middle value when data is ordered, and mode is the most frequently occurring value in a data set.

Standard Deviation

A measure of the amount of variation or dispersion in a set of values.

Bivariate Statistics

Statistical methods that involve the analysis of two variables simultaneously, for the purposes of determining the empirical relationship between them.