The Drop in the Price of the Same Goods Over

question 13

Multiple Choice

The drop in the price of the same goods over time is referred to as ______.

• A) deflation
• B) inflation
• C) unemployment
• D) debt

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Definitions:

Variance

A gauge for the extent of dispersion in a collection of data, derived by the average of squared differences relative to the mean.

Sample Mean

The average of all the data points in a sample set from a population.

Squared Deviations

The squares of the differences between each value in a set and the mean of the set, used in various statistical computations including variance.

Standard Deviation

An indicator that evaluates the degree of scatter or inconsistency in a dataset in relation to its mean.