The Price of a Good Will Tend to Fall When

question 273

Multiple Choice

The price of a good will tend to fall when

• A) there is excess demand for the good.
• B) there is excess supply of the good.
• C) demand for the good increases.
• D) the supply of the good decreases.

Understand criterion-related validity and its significance in predicting work behavior.

Gain insights into geographical differences in employment practices, such as drug testing.

Distinguish between different traits measured in personality tests, such as conscientiousness.

Appreciate the challenges in measuring potential job performance and inherent abilities.

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Definitions:

Interest

The cost of borrowing money or the profit from lending it, typically expressed as an annual percentage of the principal.

Airline Ticket

An airline ticket is a document, typically electronic, that confirms a passenger’s reservation on a flight and includes details such as flight number, date, and seat assignment.

Savings

Money that is set aside or deposited, typically in a bank account, for future use or as a precaution against emergencies.

Interest Rate

The percentage of the principal that is paid as a fee over a certain period of time for the use of borrowed money.