The Following Is Important When Interpreting the Federal Budget

question 42

Multiple Choice

The following is important when interpreting the federal budget:

• A) The wages in a specific industry.
• B) The introduction of competition in the markets.
• C) Only the total deficit/surplus figure.
• D) The actual pattern of expenditure and revenue in attrition to the deficit/surplus figure.

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Definitions:

Measures Of Central Tendency

Indicators of what is occurring in the mid-range or “center” of a group of scores. Three measures of central tendency are the mean, median, and mode.

Variability

The degree of dispersion or spread in a set of data points, indicating how much the scores differ from each other and from the average.

Mean

The mean value of a collection of numbers, determined by summing all the numbers and then dividing by the total count of those numbers.

Mode

The value that appears most frequently in a given set of data.