Which of the Following Statements About Cross-Sectional Analysis Is FALSE

question 47

Multiple Choice

Which of the following statements about cross-sectional analysis is FALSE?

• A)Cross-sectional designs are the best-known descriptive designs.
• B)A quota sample can be used with a cross-sectional design.
• C)Cross-sectional studies provide a snapshot of the variables of interest at a single point in time.
• D)The sample of elements is typically selected to be representative of some known population.
• E)All these statements about cross-sectional analysis are true.

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Definitions:

Demand Curve

A graph showing the relationship between the price of a good and the quantity of that good that consumers are willing to purchase at various prices.

Willingness to Pay

The maximum amount a consumer is ready to spend on a good or service.

Consumer Surplus

The discrepancy between the amount consumers are prepared to pay for a product or service and the price they actually spend.

Consumer Surplus

Consumer surplus is the difference between the total amount that consumers are willing and able to pay for a good or service and the total amount they actually pay.