Provide an Appropriate Response

question 89

Multiple Choice

Provide an appropriate response.
-Of the mean, median, and mode, which is (are) affected by outliers?

• A)The mean and mode
• B)The median and mode
• C)The mean only
• D)The mean and median

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Definitions:

High Inflation

A situation characterized by an excessive and accelerating increase in the prices of goods and services across the economy.

Expectations

Beliefs or forecasts about future events that affect economic decisions, such as consumption, savings, and investment.

Adverse Supply Shock

An unexpected event that suddenly decreases the supply of a good or service, potentially leading to higher prices and lower output.

Short-Run Phillips

A concept describing the inverse relationship between unemployment and inflation within a short-term period.