The method of data collection in which the population is divided into nonoverlapping, exhaustive groups is called _____.
A. random sampling
B. stratified sampling
C. endogenous sampling
D. exogenous sampling
Answer: B
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In economics, which of the following is considered as financial capital?
a. Offices and warehouses b. Stocks and bonds c. Machinery d. Factories e. Equipment
A small Caribbean island-country produces only pineapples and rum. If resources are used efficiently in the economy,
A. it will not be possible to produce more rum without decreasing the production of pineapples. B. it will be possible to produce more pineapples without decreasing the production of rum. C. it will be producing on its production possibilities curve. D. it will not be possible to produce more rum without decreasing the production of pineapples AND it will be producing on its production possibilities curve.