Select the qualitative characteristics for the following statements. (a) quality of information that permits users to identify similarities in and differences between two sets of economic phenomena. select a qualitative characteristic (b) having information available to users before it loses its capacity to influence decisions. select a qualitative characteristic (c) information about an economic phenomenon that has value as an input to the processes used by capital providers to form their own expectations about the future. select a qualitative characteristic (d) information that is capable of making a difference in the decisions of users in their capacity as capital providers. select a qualitative characteristic (e) absence of bias intended to attain a predetermined result or to induce a particular behavior.

(a) Quality of information that permits users to identify similarities in and differences between two sets of economic phenomena. - Comparability.

The information would be similar enough to be comparable, but different enough to allow for the discovery of important differences. For example, the GDP Growth data for several countries: each figure is different, but they all refer to the same.

(b) Having information available to users before it loses its capacity to influence decisions. - Timeliness.

The information is timely because it is obtained at a useful time, when it can still be employed to achieve a desired goal. For example, a sales forecast made one year ago is probably not very timely, while one made one month ago is most likely still very timely.

(c) Information about an economic phenomenon that has value as an input to the processes used by capital providers to form their own expectations about the future. - predictive value.

This information helps owners of capital make predictions about the future in order to take investment decisions. Leading economic indicators such as stock prices or building permits are a common example of information with predictive value.

(d) Information that is capable of making a difference in the decisions of users in their capacity as capital providers. - relevance

The information is relevant because 1) it is related to the capital use 2) it can change the direction of use of said capital. For example, if a firm exports to two countries, and one of those countries enters economic recession, the information is relevant because it can sway the firm to export more or only to the country whose economy is still growing.

e) Absence of bias intended to attain a predetermined result or to induce a particular behavior. - Neutrality.

The lack of bias means that the information is neutral, and objective, and therefore, very useful. The lack of bias is something that is commonly valued in statistical information, and when conducting a statistical study, plenty of measures are taken to ensure that the information is as unbiased as possible.

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