In the Example Above It Was Found That the Higher

question 107

Multiple Choice

In the example above it was found that the higher your GPA is the higher you scored on the SAT which indicates_____.

• A)positive correlation
• B)negative correlation
• C)a significant correlation
• D)significant difference between groups
• E)none of these

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Definitions:

Circular Flow

An economic model that illustrates the continuous movement of goods, services, and money between producers and consumers in an economy.

Circular Flow Model

A diagram that illustrates the movement of goods, services, and money between households and businesses in the economy.

Resource Market

The resource market is where raw materials, labor, and capital resources are traded, enabling firms to produce goods and services and reflecting the interaction between supply and demand for resources.

Gross Domestic Product

A measure of the market value of all final goods and services produced in a country during a specific period, illustrating the size of its economy.