The Ability of an Instrument to Produce the Same Estimate

question 20

Short Answer

The ability of an instrument to produce the same estimate on two or more occasions,assuming that nothing has changed in the interim is known as __________.

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Definitions:

Inflation

The rate at which the standard pricing for all goods and services moves upward, reducing the leverage of consumers to buy.

World Commodities

Raw materials or primary agricultural products that are traded on a global scale, which can include oil, gold, wheat, and coffee.

Price Level

The current mean value of prices for every good and service available in the economy.

Output

The total amount of goods or services produced by a person, machine, business, or country.