Classifying Students into Whether They Are Good, Fair, or Poor

question 108

True/False

Classifying students into whether they are good, fair, or poor speakers is an example of ordinal scaling.

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Definitions:

Recession

A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in successive quarters.

Interest Rates

The cost of borrowing money expressed as a percentage of the principal, or the rate earned by savings and investments.

Keynes

Refers to John Maynard Keynes, a British economist whose theories on government economic intervention laid the foundation for modern macroeconomics.

Work Effect

The impact on labor supply and productivity due to changes in economic policies or conditions.