The Shell Station on Portage Ave in Winnipeg Is Studying

question 57

Multiple Choice

The Shell station on Portage Ave in Winnipeg is studying the number of litres of fuel that are sold on
Each day of the week. Records are available for the past year. How can the variable 'number of
Litres' be best described?

• A) Discrete
• B) Continuous
• C) Qualitative
• D) Census
• E) Nominal

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Definitions:

Real Balances Effect

The change in consumption and savings behavior resulting from an alteration in purchasing power due to inflation or deflation.

Financial Assets

Economic resources or ownership rights that are intangible and represent a claim to future payments, such as stocks, bonds, or bank deposits.

Aggregate Supply Curve

A graph showing the relationship between the total quantity of goods and services that producers are willing to supply at different price levels.

Cyclical Unemployment

Unemployment that results from business cycle fluctuations in the economy, typically increasing during recessions and decreasing during expansions.