What Is the Defining Characteristic of a Random Sample

question 105

Multiple Choice

What is the defining characteristic of a random sample?

• A) It consists of an equal number of men and women.
• B) It is created by asking questions of people who randomly happen to walk by.
• C) It gives each person in the population of interest an equal chance of being chosen.
• D) It ensures that every person in the sample represents a specific racial, gender, or religious group.

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Definitions:

Western Democracies

Countries in the Western hemisphere that operate under a democratic form of government, emphasizing individual freedom and electoral representation.

Elastic Supply

A situation where the quantity supplied of a good or service changes significantly in response to changes in price.

Tax Burden

The overall impact of taxes on an individual or entity's finances, often expressed as a percentage of income or total cost.

Deadweight Loss

The loss of gains from trade to buyers and sellers that occurs when a tax is imposed. The deadweight loss imposes a burden on both buyers and sellers over and above the actual payment of the tax.