Which of the Following Is an Open-Ended Question

question 101

Multiple Choice

Which of the following is an open-ended question?

• A)How much did you earn last year?
• B)Do you live in an urban or rural environment?
• C)Are your political views left-wing or right-wing?
• D)What are the benefits of having a college education?

---

Definitions:

Efficient Allocation

An economic condition where resources are distributed in a way that maximizes the welfare of society, ensuring that every good or service is produced up to the point where the last unit provides a benefit equal to the cost of producing it.

Risk

Uncertainty about future outcomes.

Risk-Averse

A description of an individual or organization that prefers to avoid uncertainty and is willing to sacrifice some potential gain to avoid risk.

Expected-Utility Maximizer

An economic concept referring to an individual who chooses between uncertain prospects by comparing their expected utilities.