The Problem with the Gallup Poll of 1948 (When Dewey

question 21

Multiple Choice

The problem with the Gallup poll of 1948 (when Dewey was predicted to beat Truman) was that

• A) the polling ended too soon
• B) the "undecideds" were split 50/50
• C) many of the "undecideds" had, in fact, already made up their minds
• D) all of these

---

Definitions:

Real Interest Rates

Interest rates adjusted for inflation, reflecting the true cost of borrowing and the real yield for lenders.

Inflation

The pace of upsurge in the collective market prices for goods and services, decreasing the capacity to spend.

Interest Rates

The cost of borrowing money or the return on investment expressed as a percentage, typically on an annual basis.

CPI

Consumer Price Index, which measures the average change over time in the prices paid by consumers for a market basket of consumer goods and services.