What Is the Scale of Measurement of the Distance Between

question 81

Multiple Choice

What is the scale of measurement of the distance between any two locations?

• A) Ratio scale
• B) Ordinal scale
• C) Interval scale
• D) Nominal scale

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Definitions:

Interest Rate

The percentage charged on borrowed money, paid by the borrower to the lender, or earned through deposit or investment, typically expressed on an annual basis.

Loanable Funds

The supply of capital available for borrowing, influenced by interest rates and financial markets, which facilitates investments and purchases.

National Saving

The total amount saved by a country's economy, calculated as the sum of private and public savings, often representing the difference between national income and consumption.

Closed Economy

An economic system that does not interact with other economies in terms of trade, investment, or migration.