In the Data Window, What Does It Mean When There

question 8

Multiple Choice

In the data window, what does it mean when there is a diagonal slash through the case number?

• A)that case is missing data.
• B)that case is not missing data.
• C)that case is deleted from the dataset.
• D)that case has been selected as part of a subset of the data.
• E)that case has not been selected as part of a subset of the data.

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Definitions:

Deadweight Loss

Deadweight loss is an economic inefficiency that occurs when the allocation of resources is not optimal, leading to a loss of total surplus or welfare within the economy.

Deadweight Loss

Deadweight loss is a loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved or is not achievable, often due to market failures, taxes, or subsidies.

Excise Tax

A tax levied on specific goods or services at purchase such as alcohol, tobacco, and gasoline.

Elastic

Describes a situation in which the demand for a product or service significantly changes in response to a change in its price.