Which of the following best describes a public opinion poll in the context of economics?

• A. A market mechanism for setting prices.
• B. A government policy aimed at controlling inflation.
• C. A survey designed to estimate the views or sentiments of the public on economic issues.
• D. A statistical method used to calculate national income.

Answer: (C)

Verified step by step guidance

1. Understand the context of the question: it asks about the role of a public opinion poll specifically in economics.
2. Recall the definition of a public opinion poll: it is a method used to gather information about the public's views or sentiments on various topics, including economic issues.
3. Eliminate options that do not fit this definition: a market mechanism for setting prices is related to supply and demand, not polling; government policy aimed at controlling inflation is a policy action, not a poll; and a statistical method used to calculate national income refers to economic accounting, not polling.
4. Recognize that a public opinion poll is essentially a survey tool designed to estimate public attitudes or opinions, which can influence economic decisions or policy-making.
5. Conclude that the best description of a public opinion poll in economics is 'A survey designed to estimate the views or sentiments of the public on economic issues.'