Which of the Following Examples Best Describes Big Data

question 7

Multiple Choice

Which of the following examples best describes big data?

• A) Facebook processes one thousand picture uploads per day.
• B) Five hundred cell-phone owners around the world generate vast amounts of data by calling, texting, tweeting and browsing the web on a daily basis.
• C) The amount of data created every 48 hours is equivalent to the entire amount of data created from the dawn of civilization.
• D) 9 percent of the data in the world today has been created in the last two years.

Analyzing the effects of a tariff on market surplus and deadweight loss.

Calculating equilibrium price and quantity in a market without trade.

Identifying the changes in welfare measures (surplus) before and after the imposition of a tariff.

Understanding the role of world price in determining market outcomes under free trade.

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Definitions:

Nonbanking Public

Individuals and businesses that are participants in the financial markets but do not have the authority to accept deposits or provide banking services.

Money Supply

Money supply is the total amount of monetary assets available in an economy at a specific time, including cash, coins, and balances held in checking and savings accounts.

Currency

The system of money in general use in a particular country.

Nonbanking Public

Individuals and entities that do not participate in the banking system or have no access to banking services, often including the unbanked and underbanked segments of the population.