A researcher is studying access to credit and includes the following two questions in a survey for individuals:

1. 'If you were to apply for a personal loan of $5,000 today, do you think you would be approved?'
2. 'Thinking back over the last three years, were you ever turned down for a loan that you applied for?'

Which statement best analyzes the primary limitation associated with each of these questions for accurately measuring who is unable to get credit?

Evaluating a Research Design for Credit Constraints

Critique of a Survey-Based Policy Initiative

Evaluating a Survey Question's Reliability

A survey question asking individuals, 'Were you denied a loan in the past year?' is a more reliable measure of credit constraints than a question asking, 'If you applied for a loan today, do you believe you would be approved?'

An economist is studying credit markets using survey data. Match each type of survey question with the primary limitation it introduces when trying to accurately identify individuals who cannot get credit.

Improving Survey Questions on Credit Access

Critiquing an Economic Report on Credit Access

Analyzing Conflicting Survey Results on Credit Access

A national survey finds that only 5% of respondents report being denied a loan in the past three years. Based on this finding alone, it is safe to conclude that credit constraints are not a significant issue for the vast majority of the population.