One of the Problems with the Literary Digest Poll Taken

question 20

Multiple Choice

One of the problems with the Literary Digest poll taken prior to the 1936 presidential election was:

• A) Many of the people in the population could not afford a telephone.
• B) The sample size was too small.
• C) The population was too large.
• D) The responses were biased because of the way the questions were phrased.
• E) Most people were not at home at the time the calls were made.

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Definitions:

Paasche Price Index

An economic indicator that measures the change over time in the cost of a fixed basket of consumer goods and services, using the current period as the base.

Doggerel

Verse or words that are poorly written or expressed, often characterized by clichés, sloppy meter, and a lack of seriousness or artistic depth.

Revealed Preference

A theory in economics that assumes individuals' preferences can be discerned by observing their purchasing habits and behaviors.

Utility Maximization

The process or strategy of choosing the combination of goods and services that maximizes the utility or satisfaction of a consumer, given their budget constraints.