exogenous variable
A variable that is determined outside the theory. Sometimes called an
autonomous variable or an independent variable.
index number
A measure of some variable, conventionally expressed relative to a base
period, which is assigned the value 100.
cross-sectional data
A set of observations of a variable made at the same time across several
different units (such as households, firms, or countries).
time-series data
A set of observations of a variable made at successive periods of time.
scatter diagram
A graph showing two variables, one measured on the horizontal and the
other on the vertical axis. Each point represents the values of the
variables for a particular unit of observation.
quantity demanded
The amount of a good or service that consumers want to purchase during
some time period.
demand schedule
A table showing the relationship between quantity demanded and the