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Suppose you participate in an 'instant poll' on an Internet website which asks, "What is your favorite network TV program at 8 pm (Eastern time) on Thursday night?" After answering the question, you look at the results of the entire poll, and find that 6,423 people have responded to it.Should the results of this poll be a good indicator of what the most popular network TV program is on Thursday nights at 8pm (Eastern time)? Explain why or why not.
Wage Differentials
The variations in wage rates due to factors like occupation, location, industry, and individual skills and experience.
Discriminatory Bias
Prejudice resulting in unfair treatment of individuals or groups based on characteristics such as race, gender, or age.
Productivity
The efficiency with which input resources are converted into outputs, often measured as the amount of output per unit of input.
Supply Reduction
A decrease in the amount of a good or service that producers are willing to provide, often due to factors like high production costs or regulatory measures.
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