(The Following National Income Data Are in Billions of Dollars

question 85

Multiple Choice

(The following national income data are in billions of dollars.) Refer to the above data. Disposable income in this economy is:

• A) $611 billion
• B) $659 billion
• C) $667 billion
• D) $686 billion

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Definitions:

Quadratic Trend Analysis

A statistical method used to determine if a quadratic relationship exists between a dependent variable and an independent variable.

Exponential Smoothing

A time series forecasting method for univariate data that applies weighted averaging of past observations, where the weights decrease exponentially over time.

Mean Absolute Deviation

The average of the absolute differences between each data value in a set and the mean of the data set, measuring dispersion.

Moving Averages

A mathematical method applied to even out brief variations and emphasize longer-term tendencies within data.