What Is the Extra Output Received from the Hiring of an Extra

question 41

Multiple Choice

What is the extra output received from the hiring of an extra worker?

• A) The total product of labour.
• B) The value of marginal product of labour.
• C) The marginal product of labour.
• D) The average product of labour.
• E) The value of average product of labour.

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Definitions:

Validity

The extent to which a test or procedure accurately measures what it is intended to measure.

Predictive Validity

The extent to which a score on a scale or test predicts future performance on a related outcome.

Content Validity

The extent to which a test measures all aspects of the concept it intends to assess, ensuring the test is representative of the subject matter.

Construct Validity

The extent to which a test or instrument measures the theoretical construct it is intended to measure.