Each Value in a Data Set May Be Referred to as Either

question 7

Multiple Choice

Each value in a data set may be referred to as either a data value or a(n) ____________.

• A) subdata
• B) datum
• C) atom
• D) point

Identify factors that influence changes in the unemployment rate.

Describe different types of unemployment (frictional, structural, cyclical, seasonal).

Understand the economic and social costs of unemployment.

Recognize how government statements about employment need to be interpreted in context.

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Definitions:

Contract

An agreement which is legally binding and involves more than one party, enforceable by legal means.

Verbal Agreement

An agreement made by spoken words which may be legally binding, though often harder to prove than written agreements.

Revocation

Withdrawal of an offer before acceptance (must be communicated to the offeree).

Counter-Offer

A proposal made in response to an original offer, differing in terms and thereby rejecting the original offer.