Which of the Following Statements Is True of Good Information

question 24

Multiple Choice

Which of the following statements is True of good information?

• A) Good information should go well beyond the scope of the purpose for which it is generated.
• B) Information should be relevant to the subject, not necessarily to the context.
• C) Good information should be based on correct and complete data.
• D) Good information is only received from sources that provide data for free.
• E) Good information comes from large data sets.

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Definitions:

Demand Schedule

A table that shows the quantity of a good or service that consumers are willing and able to purchase at various prices.

Output Per Hour

A measure of productivity calculated by dividing the total output of goods and services by the total hours worked.

Marginal Productivity

The additional output that is produced by adding one more unit of a particular input while holding all other inputs constant.

Complements In Production

Goods that are produced together or their production levels are directly linked; an increase in the production of one leads to an increase in the production of the other.