Two Important Advantages of Secondary Data Are That They Are

question 125

Multiple Choice

Two important advantages of secondary data are that they are __________ and __________.

• A)inexpensive; up-to-date
• B)up-to-date; supplies all relevant categories of information
• C)inexpensive or free; save time
• D)tailor-made to specifications; relatively inexpensive
• E)highly credible; up-to-date

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Definitions:

Recession

A temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.

Transfer Payments

Payments made by governments to individuals without any goods or services being received in return, such as welfare, social security, and unemployment benefits.

Federal Budget Deficit

The amount by which a government's expenditures exceed its tax revenues over a specific fiscal period, leading to borrowing or debt accumulation.

Economic Growth

Growth in the inflation-corrected value of goods and services that an economy outputs over time.