At a Level of Real Disposable Income of $0, Suppose

question 337

Multiple Choice

At a level of real disposable income of $0, suppose consumption is $2,000. Given this information, we know with certainty that saving equals

• A) $0.
• B) $2,000.
• C) -$2,000.
• D) -$1,000.

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Definitions:

Chebysheff's Theorem

A statistical theorem that provides a minimum probability for the distribution of values within k standard deviations from the mean for any data set, regardless of the distribution's shape.

Standard Deviations

A measure of the amount of variation or dispersion of a set of values from the average.

Standard Deviation

An indicator of the degree of variation or spread within a collection of numbers.

Variability

The extent to which data points in a data set differ from each other and from the mean.