Experience Surveys Differ from Surveys Conducted as Part of Descriptive

question 115

True/False

Experience surveys differ from surveys conducted as part of descriptive research in that there is usually no formal attempt to ensure that the survey results are representative of any defined group of subjects.

---

Definitions:

Recessions

Phases of momentary economic slump that lead to a reduction in trading and industrial activities, frequently identified by declining GDP in two successive quarters.

Aggregate Demand

The total demand for all goods and services in an economy at a given general price level and in a given time period.

Aggregate Supply

The aggregate output of goods and services that companies in a national economy aim to market within a given timeframe.

Classical Economic Theory

A broad school of thought in economics that emphasizes the role of market forces and the flexibility of prices in achieving economic equilibrium, advocating minimal government intervention.