Professor Leon Loopy's Survey Question Asked Students to Indicate Their

question 78

Multiple Choice

Professor Leon Loopy's survey question asked students to indicate their class standing as one of the following: first year,second year,third year,fourth year,or graduate.He measured the variable at what level of measurement?

• A)Nominal
• B)Ordinal
• C)Interval
• D)Ratio
• E)None of the above

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Definitions:

Monopoly

A market structure characterized by a single seller, offering a unique product or service with no close substitutes, leading to the control of a particular market.

Gross Investment

The total expenditure on new capital assets (plant, equipment, buildings) before accounting for depreciation.

Net Export

The value of a country's total exports minus its total imports, representing the balance of trade.

Private Consumption

Expenditure by households on goods and services, excluding purchases of residences.