If a Research Group Plans to Conduct a Survey Poll

question 21

Multiple Choice

If a research group plans to conduct a survey poll about an upcoming presidential election in the United States, what is the minimum percentage of all likely voters that will be needed to obtain an accurate estimation of voter opinion, assuming that a random sample is obtained?

• A) 2 percent
• B) 20 percent
• C) 50 percent
• D) 80 percent

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Definitions:

Inelastic

Describing demand that is relatively unresponsive to changes in price.

Quantity Demanded

This is the total amount of a good or service that consumers want to buy at a specific price level, within a certain period.

Derived Demand

The demand for a factor of production or intermediate good that occurs as a result of the demand for another good or service.

Marginal Productivity

The additional output that results from using one more unit of a particular input, holding all other inputs constant.