Below Are Some Items from a Survey

question 25

Essay

Below are some items from a survey.For each item,identify the level of measurement and whether the variable will be discrete or continuous.Explain your reasoning for each item.

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Definitions:

Consumption Function

An economic formula that expresses the relationship between total consumption and gross national income, indicating how much households are likely to spend.

Disposable Income

Disposable income refers to the amount of money individuals or households have available to spend or save after income taxes are deducted.

Marginal Propensity

The ratio of change in an economic variable (e.g., consumption, saving) to a change in another economic variable (e.g., income).

Disposable Income

Post-tax income that households can allocate towards savings and expenses.