Systematic Error Would Be Least Likely to Occur with Which

question 15

Multiple Choice

Systematic error would be least likely to occur with which of the following measures?

• A) a miscalibrated yardstick that is an inch short
• B) an IQ test developed for English-speaking U.S. citizens that is administered to French Canadians
• C) a question measuring child abuse that asks, "How often do you hit your child when she doesn't obey you?"
• D) scores on the multiple choice portion of this exam
• E) reports of gambling winnings on IRS tax returns

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Definitions:

Perfectly Price Discriminate

A pricing strategy where a seller charges the maximum price that each individual consumer is willing to pay, thus capturing all possible consumer surplus.

Deadweight Losses

Economic inefficiencies that occur when the allocation of resources is not optimal, resulting from distortions in the market such as taxes, subsidies, or monopolies.

Perfect Price Discrimination

A pricing strategy where a seller charges the maximum possible price for each unit consumed that each buyer is willing to pay, thus capturing the entire consumer surplus as profit.

Total Revenue

The total income received by a firm from its sales of goods or services before any costs or expenses are deducted.