A Statistical Method of Identifying Associations Among a Large Number

question 102

Multiple Choice

A statistical method of identifying associations among a large number of variables to reveal more general patterns is called _____________.

• A)statistics
• B)factor analysis
• C)number analysis
• D)standard deviation

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Definitions:

MPC

Marginal Propensity to Consume, a measure that describes the proportion of an increase in income that gets spent on consumption rather than being saved.

Federal Budget Deficit

The financial situation in which the federal government's expenditures exceed its revenues in a given fiscal year.

National Debt

The total amount of money that a country's government has borrowed.

Taxes

Mandatory economic impositions or alternative kinds of charges placed on taxpayers by governmental bodies to finance state expenditure and diverse public costs.