Determine Which of the Four Levels of Measurement Is Most

question 19

Multiple Choice

Determine which of the four levels of measurement is most appropriate.
-Amount of fat (in grams) in cookies.

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

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Definitions:

Prices Double

A situation where the prices of goods or services increase to twice their original amount.

Quasilinear Preferences

Consumer preferences where the utility function is linear in one of the goods, indicating constant marginal utility for that good.

Income Offer Curve

A graphical representation showing how an individual's optimal choice of goods to consume changes as their income changes.

Substitutes

Substitutes are goods or services that can be used in place of each other, where the consumption of one increases, the demand for the other decreases.