Assume the following. In location A yearly temperatures range from -30°F to 100°F and in location B yearly temperatures range from 55°F to 75°F. In both locations the average yearly temperature equals 65°F. We can conclude that
A) temperature in location A has a higher variance.
B) temperature in location B has a higher standard deviation.
C) temperature in location A has a lower standard deviation.
D) temperatures in both locations have the same standard deviation but different variances.
A
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Based on the table of Real GDP, which comparison of the nominal GDP and the real GDP is accurate?
a. The nominal GDP is usually equal to the real GDP.
b. The nominal GDP is usually less than the real GDP.
c. The nominal GDP is usually more than the real GDP.
d. The relationship between nominal and real GDP depends on the base year.
Increases in aggregate demand are likely to create
a) deflation during recessions b) inflation when the output gap is quite negative c) higher output when the output gap is negative, and inflation when output is at capacity d) reductions in output if the output gap is already positive e) both inflation and recession