Statistics on Real GDP During World War II May Give

question 50

Multiple Choice

Statistics on real GDP during World War II may give a misleading indication of whether World War II was a period of prosperity because

• A)inflation may have been considerably higher than estimated.
• B)most of the increased production was for military goods,not consumption goods.
• C)government agents purposely inflated the production numbers to maintain American support for the war.
• D)government agencies were shorthanded and did a particularly poor job of collecting data.

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Definitions:

Interval Data

A type of data that consists of numerical values where the order and the exact differences between the values are meaningful.

Nominal Data

Data classified into distinct categories according to specified characteristics that cannot be ordered in a meaningful way.

Qualitative

Relating to, measuring, or measured by the quality of something rather than its quantity.

Categorical

Pertaining to data that can be divided into specific groups or categories that lack a natural ordering.