Judgment Sampling Is Sometimes Preferred Over Random Sampling, for Example

question 14

Multiple Choice

Judgment sampling is sometimes preferred over random sampling, for example, when:

• A)the desired sample size is much larger than the population.
• B)the sampling budget is large and the population is conveniently located.
• C)time is short and the sampling budget is limited.
• D)the population is readily accessible and sampling is nondestructive.

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Definitions:

Price Level

Price Level refers to the average of all current prices for goods and services in an economy, influencing purchasing power and economic decisions.

Real GDP

Real GDP, or Gross Domestic Product adjusted for inflation, measures the value of all goods and services produced by an economy in a given period, reflecting the true growth in economic output.

Velocity of Money

The rate at which money circulates or is exchanged in an economy during a specific period.

Money Supply

The total amount of monetary assets available in an economy at a specific time, including currency in circulation and balances held in checking and savings accounts.