Assume the Quantity of Good X Is Measured on the Horizontal

question 41

Multiple Choice

Assume the quantity of good X is measured on the horizontal axis and the quantity of good Y on the vertical axis.Initial prices are PX = $5 and PY = $10.The consumer's income is $100.If PY increases to $20,then

• A)the entire budget line shifts parallel to the left.
• B)the budget line will rotate to the left with the slope changing from 1/2 to 1/4 (in absolute values).
• C)the budget line will rotate to the left,slope remaining constant.
• D)the budget line will rotate to the right with the slope changing from 1/4 to 1/2 (in absolute values).
• E)the entire budget line shifts parallel to the right.

Relate path-goal theory to other leadership theories such as situational approach and Mumford's Skills Model.

Understand the dynamic nature of leadership styles according to follower's changing needs and task dynamics.

Recognize the importance of leader-follower exchanges and how effective leadership connects with followers’ needs and work tasks.

Understand the conditions under which medical expenses, including long-term care insurance premiums and services like chiropractic care, can be deducted.

---

Definitions:

Kinds of Validity

The extent to which a test or instrument measures what it is supposed to measure, including content, criterion, and construct validity.

Contrast Examples

The use of opposing or differing instances to illustrate a point, highlight differences, or clarify a concept.

High Validity

A measure of how accurately a test or research measures what it intends to measure.

Low Validity

Refers to the extent to which an instrument, test, or study fails to accurately measure what it is intended to measure.