Response Set Bias Refers to Error That Enters into Our

question 39

True/False

Response set bias refers to error that enters into our measures when respondents begin to answer all the questions in a similar way.

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Definitions:

Accounting Profit

The net income a company reports on its financial statements, calculated as total revenues minus explicit costs.

Marginal Product

The additional output that is produced by using one more unit of a specific input, holding the levels of all other inputs constant.

Nonlabor Resources

Nonlabor resources refer to the materials, capital, land, and technology used in the production of goods and services, distinct from human labor.

Output

The total amount of goods or services produced by a business, industry, or economy during a given period.