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Use the following to answer question(s) :
Exhibit: Guns and Butter
-(Exhibit: Guns and Butter) If the economy were producing 8 units of guns and 12 units of butter per period:
Explanatory Variable
A variable that is manipulated or categorized to observe its effect on a response variable.
Gross Sales
The total revenue generated from sales before any deductions are made for returns, discounts, or allowances.
Response Variable
The outcome variable on which comparisons are made, often dependent on the predictor or independent variables in a study.
Fuel Economy
A measure of how far a vehicle can travel on a given amount of fuel, often expressed in miles per gallon or liters per 100 kilometers.
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