Which Measures of Association Indicate the Strength of a Relationship

question 19

Multiple Choice

Which measures of association indicate the strength of a relationship?

• A) nominal, ordinal, and interval/ratio measures of association
• B) only ordinal and interval/ratio measures of association
• C) only interval/ratio measures of association
• D) no measures of association indicate the strength of a relationship

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Definitions:

Aggregate Demand

Overall market demand for goods and services in an economy, determined at a prevailing comprehensive price level for a certain duration.

Equilibrium Output

The level of output where the quantity of goods produced equals the quantity of goods consumed, resulting in market equilibrium.

Potential Output

The maximum amount of goods and services an economy can produce when it is most efficiently utilizing all its resources.

Actual Output

The real quantity of goods and services produced by an economy or firm at a given period, regardless of capacity.