An Economic Variable That Is Measured Per Unit of Time,such

question 141

Multiple Choice

An economic variable that is measured per unit of time,such as spending per year,is known as a:

• A)stock variable.
• B)periodic variable.
• C)dummy variable.
• D)flow variable.
• E)controlled variable.

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Definitions:

Inflation

The rate at which the general level of prices for goods and services rises, eroding purchasing power.

Production Possibility Frontier

A graphical representation that shows the maximum quantity of two goods or services that a society can produce given fixed resources and technology, assuming all resources are fully employed.

Technological Improvement

Advancements or enhancements in technology that increase efficiency, productivity, or bring new capabilities to businesses, industries, or consumer products.

Wheat

A cereal grain that is a staple food in many parts of the world, used to make flour for bread, pasta, pastry, and other foods.