Syndicated Data Has Many Advantages and Disadvantages

question 91

Multiple Choice

Syndicated data has many advantages and disadvantages. Which statement below best reflects one of these?

• A) It offers a strategic information advantage.
• B) Requires commitment to a long-term contract.
• C) Information is customizable.
• D) Quality of data is questionable.
• E) It is always more expense than using primary data.

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Definitions:

Base-Year Prices

Prices from a specific base year that are used to calculate real values or quantities, allowing for the comparison of economic data over time by removing the effects of inflation.

Laspeyres Index

A price index calculated by taking the ratio of the total cost of purchasing a specified set of goods and services in a given period to the cost of purchasing the same set of goods and services during a base period, using base period quantities for weighting.

Nominal Income

The amount of money earned in current dollars, without adjustment for inflation or purchasing power.

Revealed Preference

An economic theory that determines preferences by observing consumer choices and behaviors rather than through direct inquiry.