A Dummy Variable Is Also Called

question 34

Multiple Choice

A dummy variable is also called

• A)an approximate variable.
• B)a discrete variable.
• C)a zero-sum variable.
• D)an improper variable.

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Definitions:

Equilibrium GDP

The level of Gross Domestic Product (GDP) at which aggregate supply equals aggregate demand, indicating a state of economic balance.

National Debt

The total amount of money that a country's government has borrowed by various means, including foreign governments and domestic institutions.

Trillion Mark

A reference to a period of hyperinflation in Weimar Germany where the mark, the currency at the time, devalued to the point where trillions were needed for basic transactions.

Budget Deficit

The situation where a government's expenditures exceed its revenues over a specified period, leading to borrowing or money printing.