Which of the Following Statements Is FALSE

question 40

Multiple Choice

Which of the following statements is FALSE?

• A) In cluster analysis, objects in each cluster tend to be similar to each other and dissimilar to objects in the other clusters
• B) Cluster analysis is also called classification analysis or numerical taxonomy
• C) Groups or clusters are suggested by the data, not defined a priori
• D) Cluster analysis is appropriate when the criterion or dependent variable is categorical and the independent variables are interval
• E) All of the above are true

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Definitions:

Money Supply

The sum of all available money in an economy at a given moment, encompassing cash, coins, and bank account balances.

Real GDP

The measure of the value of economic output adjusted for price changes (inflation or deflation), reflecting the real volume of production.

Price Level

The overall price mean for each and every product and service in the economic sector.

Aggregate Supply Curve

A graphical representation showing the relationship between the overall price level in an economy and the total output produced by firms at that price level.