Asked by Marin Webster hannon on May 17, 2024
Verified
An economic variable that is measured per unit of time,such as spending per year,is known as a:
A) stock variable.
B) periodic variable.
C) dummy variable.
D) flow variable.
E) controlled variable.
Flow Variable
A quantity that is measured over a specified period of time, such as income or expenditure.
Stock Variable
A measure of something at a particular point in time, such as the amount of money you have with you right now.
Periodic Variable
A variable that changes at regular intervals over time, often used in the analysis of time series data.
- Explain the difference between flow variables and stock variables in economic contexts.
- Understand economic variables and their measurement in time frames.
Verified Answer
LR
Laura RovakMay 22, 2024
Final Answer :
D
Explanation :
A flow variable is measured per unit of time, such as income or spending per year. A stock variable, on the other hand, is a quantity that is measured at a specific point in time, such as the amount of money in a bank account. Periodic variables refer to phenomena that occur regularly, such as seasonal changes. Dummy variables are used in statistical analysis to represent categorical variables, and controlled variables are variables that are held constant in an experiment.
Learning Objectives
- Explain the difference between flow variables and stock variables in economic contexts.
- Understand economic variables and their measurement in time frames.