The Ethics of Measurement States That It Is Important That

question 87

Essay

The Ethics of Measurement states that it is important that the conceptualization and measurement process be free from bias and preferences for research outcomes.Give four examples where the ethics of particular forms of the measurement process can be called into question.

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Definitions:

Price Level

An all-encompassing average of the present prices in the economy for goods and services.

Nominal Variable

A variable measured in terms of monetary value that has not been adjusted for inflation, reflecting the current price levels.

Velocity of Money

The rate at which money circulates in the economy, typically measured as the ratio of GDP to a country's total supply of money.

Real GDP

An economic metric that quantifies the value of all finished goods and services produced within a country's borders in a specific time period, corrected for changes in price or inflation.