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. How Stratified Random Sampling Works: Stratified random sampling is a method of selecting a sample from a population in which the population is divided into strata, and a random sample is taken from each stratum. This type of sampling is often used when the population is heterogeneous, and it is desired to have a … Read more
The term “Kangaroos Definition” is a technical term used in the field of economics and refers to the informal definition of the Australian dollar. The term was first used in the early 1990s by economic commentators in Australia and is now used internationally. The kangaroo definition of the Australian dollar is the exchange rate at … Read more
A locked-in retirement account (LIRA) is a retirement savings account that is restricted in terms of how and when funds can be withdrawn. Typically, a LIRA is set up by an employer as part of a pension plan, and funds are transferred into the account from a pension plan when an employee leaves their job. … Read more
An economic model refers to the set of relationships and phenomena can be represented in a much simpler way to demonstrate a set of variables related to the economy. Types of economic model In macroeconomic models and microeconomic models is how the economic models themselves are classified. In particular, macroeconomic models are in charge of … Read more
