Which of the Following Is an Advantage of Using Primary

question 118

Multiple Choice

Which of the following is an advantage of using primary data sources?

• A) It requires very little time and effort.
• B) It is inexpensive.
• C) It does not require any sophisticated training.
• D) It offers a lesser scope for bias.
• E) It does not require experience to design the study.

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Definitions:

Equilibrium Real GDP

The level of Gross Domestic Product where aggregate supply equals aggregate demand, adjusted for inflation.

Aggregate Supply Curve

A graphical representation showing the relationship between the total production of goods and services and the price level for those goods and services.

AS Curve

Short for Aggregate Supply Curve, it represents the total supply of goods and services that firms in an economy are willing to sell at a given price level.

Maximum Output Level

The highest level of output that a company can produce in a given period without increasing the input.