Which of the Following Are the Three Most Common Measures

question 35

Multiple Choice

Which of the following are the three most common measures of central location?

• A)Mean,median,and mode
• B)Mean,variance,and standard deviation
• C)Mean,median,and variance
• D)Mean,median,and standard deviation
• E)First quartile,second quartile,and third quartile

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Definitions:

Automatic Stabilizers

Economic policies and programs designed to offset fluctuations in a nation's economic activity without intervention by the government or policymakers.

Falling Output

Falling output describes a situation where an economy or a particular sector is producing less goods or services over time.

Budget Deficit

A financial situation where government expenditures exceed its revenues.

Functional Finance

An economic theory asserting that government should finance its spending to meet explicit economic objectives, such as full employment, rather than aiming to balance budgets.