In Sample 1, the Age of Respondents Varies from 29

question 3

Multiple Choice

In sample 1, the age of respondents varies from 29 to 50 years. In sample 2, the age of respondents varies from 15 to 61. This implies that sample 2 must have a higher _____ than that of sample 1.

• A)mean
• B)standard deviation
• C)range
• D)median
• E)frequency distribution

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Definitions:

Government Transfer Payments

Payments made by the government to individuals through programs such as Social Security and unemployment insurance, without any services being rendered in return.

Automatic Stabilizer

Economic policies and programs, such as unemployment insurance and taxation, that automatically adjust to counteract economic fluctuations without additional government intervention.

Natural Rate

Often refers to the natural rate of unemployment, indicating the lowest unemployment rate an economy can sustain over the long term without causing inflation.

Unemployment

The situation where individuals who are able and willing to work do not find jobs, expressed as a percentage of the labor force.