A Scale Made Up of Multiple Questions, Responses Arranged Horizontally

question 12

Multiple Choice

A scale made up of multiple questions, responses arranged horizontally on a 5 or 7 point scale, and includes a neutral midpoint is known as the ________________.

• A) Likert scale
• B) Likert item
• C) Survey
• D) Questionnaire

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Definitions:

Pooling Equilibrium

A situation in a market where all types of customers receive the same offer or treatment from a seller because the seller cannot distinguish between different types of customers.

Microeconomics

The branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of limited resources.

Wage Cut

A reduction in the rate of pay received by workers, often implemented by employers to reduce costs or in response to economic conditions.

Marginal Products

The additional output that is produced by employing one more unit of a variable factor of production, holding other inputs constant.