as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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explain the differences between an open-ended and a close-ended question.
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open-ended questions do not have a fixed answer, allowing the respondent to provide any kind of answer. these questions usually begin with words such as “what,” “how,” “why,” or “describe”. they can generate a lot of valuable insights. on the other hand, close-ended questions can be answered with a simple “yes” or “no”, or with a fixed selection of responses. these questions often begin with “do”, “are”, or “would”. they are useful for collecting quantitative data, but not for gathering qualitative information.
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