Macroeconomics Might Study Which of the Following

question 151

Multiple Choice

Macroeconomics might study which of the following?

• A) the causes of domestic unemployment
• B) decision making undertaken by firms
• C) decision making undertaken by households
• D) determinants of the prices of rare goods (e.g., diamonds)

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Definitions:

Nominal Variable

A categorical variable for which different values represent different categories without any intrinsic ranking order.

Interval Data

A type of numerical data involving measurements where both the order and the exact differences between the measurements matter, but there is no true zero point.

Quantitative Data

Data that can be quantified and verified, and is amenable to statistical manipulation. It represents the quantity of something rather than its quality.

Numerical Data

Information that is quantifiable and usually collected in number form, used for statistical analysis or calculations.