Small Differences in Economic Growth Rates Translate into Significant Differences

question 171

True/False

Small differences in economic growth rates translate into significant differences in living standards.

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Definitions:

Numerator

The top number in a fraction that represents the part of the whole that is being considered.

Denominator

The bottom number in a fraction that shows how many equal parts the item or group is divided into.

Categorical Variable

A variable with categorical data.

Dummy Variables

Variables used in regression analysis to represent categorical data by converting it into a series of binary values.