CFA Practice Question

There are 410 practice questions for this study session.

CFA Practice Question

The years in which the U.S. gross domestic product decreased would be an example of which level of measurement?
A. ratio
B. interval
C. ordinal
Explanation: The correct answer is interval because it makes sense to talk about differences between years (1984 - 1963 = 21 years); ratios are meaningless since time did not begin in year 0.

User Contributed Comments 7

User Comment
jgraham6 tricky
Renaud1807 Well, the interval won't have the same range? so isn't it ordinal?
charlie1 Interval. The range does not need to be the same for intervals.
eboyd If you are talking about the total number of years in which the US GDP decreased, wouldn't it be possible to have the total equal zero? Hypothetically, if US GDP never decreased, the total would be zero, and if it decreased in 5 years, the total would be 5, and so on, right?
Thecatz very tricky !
dagibbo Wouldn't this be ratio since the # of years in which the GDP decreased can't be less than 0?
ConnerVP1 agree with ratio argument...
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