Silas Took the College Aptitude Test (CAT)when He Was a Junior

question 299

Multiple Choice

Silas took the College Aptitude Test (CAT) when he was a junior in high school and he attained a very high score on the test.When Silas was in college,he was suspended his first year,and when he was readmitted,he ended up dropping out because he was doing poorly in all his classes.When Silas went for career counseling,he retook the CAT,and again he earned a very high score.Based on Silas' experience,you might conclude that the CAT has

• A) been poorly standardized.
• B) high reliability, but low validity.
• C) high validity, but low reliability.
• D) low reliability, and low validity.

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Definitions:

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers, resulting in a stable market condition.

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price in a market.

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded by consumers over a range of prices.

Equilibrium Price

The cost where the amount of products offered matches the amount of products sought by consumers.