"Macroeconomics Is the Part of Economics Concerned with Individual Units

question 16

Multiple Choice

"Macroeconomics is the part of economics concerned with individual units, such as a person, a household, a firm, or an industry." This statement is

• A) positive but incorrect.
• B) positive and correct.
• C) normative but incorrect.
• D) normative and correct.

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Definitions:

Class Width

The difference between the upper and lower boundaries of a class interval in frequency distribution.

Relative Frequency Distributions

These distributions show the proportion of observations within a dataset that belong to different categories or intervals.

Discrete Data

Data that can only take specific values and are countable, often representing categories or counts.

Time Series Data

Data collected or recorded at regular intervals over a period of time, allowing for the analysis of patterns, trends, and forecasting.