If a Correlation Coefficient That You Expected to Be Fairly

question 12

Multiple Choice

If a correlation coefficient that you expected to be fairly high turns out to be very low,you should investigate whether there is a

• A)restrictive range on one or both variables.
• B)curvilinear relationship between the variables.
• C)third variable inhibiting the relationship.
• D)restrictive range on one or both variables and a curvilinear relationship between the variables.

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Definitions:

Employment Decline

A situation where the number of employed individuals in an economy decreases, often due to economic downturns, technological changes, or structural shifts in the economy.

Labor Demand Curve

A graphical representation that shows the quantity of labor that employers are willing to hire at different wage rates.

Unit-elastic

A situation in which the percentage change in quantity demanded is equal to the percentage change in price, resulting in no change in total revenue.

Elasticity of Labor Demand

A measure of how the quantity of labor demanded by employers changes in response to a change in wages or salary levels.