Before Utilizing a Data Source, It Is Necessary To

question 2

Multiple Choice

Before utilizing a data source, it is necessary to:

• A) First, read how the data were collected
• B) Second, engage in data validation and verification
• C) Both a and b
• D) Neither a nor b

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Definitions:

Transfer Payments

Payments made by governments to individuals without the expectation of a direct service or goods in return, often part of a social safety net.

Recessionary Periods

Times of economic decline marked by falling GDP, reduced employment, and decreased spending and investment.

Aggregate Demand

The complete call for goods and services across an economy, set at a particular price level and over a definite timeframe.

John Maynard Keynes

British economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments.