Examlex

Solved

A Sample That Is Selected to Resemble the Entire Population

question 21

Multiple Choice

A sample that is selected to resemble the entire population in its percentage of males and females, blacks and whites, and other factors is said to be a


Definitions:

Quota Rent

The economic rent a producer earns from the difference between the market price of a good and its supply price due to a quota limit.

Equilibrium Price

The price at which the quantity of goods supplied is equal to the quantity of goods demanded.

Quota Price

The cost associated with acquiring a quota, which is a government-imposed limit on the quantity of a good that can be imported or exported.

Quota Rent

Revenue earned by the holder of a production or import quota, representing the market price minus the supply price under the quota limit.

Related Questions