Examlex
When a consumer experiences a price increase for a strongly inferior good, it is possible that the:
Median
The middle value in a data set when the values are arranged in ascending or descending order.
Skewed
A description of data that are not symmetrically distributed around the mean, often indicating a longer tail on one side of the distribution.
Parameter
In statistical analysis, a parameter is a quantity that characterizes a certain aspect of a population or a model.
Statistic
A number that describes a characteristic of a sample, derived from the data that the sample contains.
Q7: When the government taxes income as part
Q12: Experiments suggest that people: (i) are over-confident
Q16: The CPI is 100 for the year
Q21: Income inequality is something that occurs in
Q31: If Ernest Rutherford died and left $8000
Q43: Since all free markets, including financial markets,
Q46: Because people can borrow when they are
Q48: Competitive firms that maximise profit will hire
Q54: According to the economist Roback, the early
Q79: In gauging the inequality of living standards,