Scales That Assign a Value to an Object for Identification

question 14

Multiple Choice

Scales that assign a value to an object for identification or classification purposes are called ____ scales.

• A)ordinal
• B)nominal
• C)interval
• D)ratio

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Definitions:

MPC

The marginal propensity to consume, representing the proportion of additional income that an individual will spend on consumption.

Saving

The portion of income not spent on consumption, often put aside for future use or investment.

Disposable Income

The amount of money an individual or household has available to spend or save after income taxes have been deducted.

Disposable Income

Money that becomes available for household savings and expenditures after income taxes are subtracted.