Standardization Is Used to Establish

question 253

Multiple Choice

Standardization is used to establish

• A) achievement.
• B) test norms.
• C) reliability.
• D) validity.

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Definitions:

Expected Price Level

The anticipated average price of goods and services in an economy at a future date.

Private Sector

The part of the economy that is owned and operated by individuals and companies for profit, not controlled by the state.

Passive Approach

A management strategy that seeks to track or replicate the performance of a market index or benchmark, rather than attempting to outperform it.

Recessionary Gap

The difference between the actual output of an economy and the output it could produce at full employment.