The Table Below Shows the Number of Homicides in the U.S

question 55

Multiple Choice

The table below shows the number of homicides in the U.S. in each of the years 1989-1993. $$\begin{array} { l c } \hline & \begin{array} { c } \text { Murder and non-negligent } \\\text { manslaughter }\end{array} \\\text { Year } & \text { Number of offenses } \\\hline 1989 & 21,500 \\1990 & 23,440 \\1991 & 24,700 \\1992 & 23,760 \\1993 & 24,530 \\\hline\end{array}$$ Classify the study as either descriptive or inferential.

• A)Descriptive
• B)Inferential

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Definitions:

Production

The process of creating goods and services using inputs such as labor, capital, and raw materials.

Consumption

The use of goods and services by households, contributing to their wellbeing and the overall economy.

MRS

Marginal Rate of Substitution, the rate at which a consumer is ready to exchange quantities of one good for another good while maintaining the same level of utility.

MRT

MRT, or Marginal Rate of Technical Substitution, measures the rate at which one input can be reduced per additional unit of another input, keeping output constant.