Determine Which Level of Measurement Is Appropriate

question 25

Multiple Choice

Determine which level of measurement is appropriate. Salaries of college professors

• A) Interval
• B) Ordinal
• C) Ratio
• D) Nominal

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Definitions:

Alternative Given

A term used to describe a scenario or choice available apart from the primary option; however, without a specific economic or general established context, this phrase might be too broad or not specifically recognized as a distinct term.

Production Possibilities Frontier

A chart outlining the utmost production options for two commodities, considering a fixed amount of resources and additional elements.

Global Economy

The interconnected economies of the world's nations, influenced by global trade and investment.

Production Possibilities

Production possibilities depict the different combinations of goods and services that an economy can produce, given its available resources and technology, demonstrating the trade-offs and opportunity costs involved in production choices.