Which of the Following Statements Is TRUE

question 58

Multiple Choice

Which of the following statements is TRUE?

• A) Cartels are an important source of economic growth in developing countries.
• B) Economists are not opposed to government-created cartels since they usually provide high-quality products and service.
• C) One cost of government-sponsored cartels is that people spend resources trying to obtain or maintain a cartel rather than produce better products.
• D) Government supported cartels usually mean more innovation.

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Definitions:

Reliability And Accuracy

The consistency and correctness of a test's or measurement's outcomes over repeated applications.

Observation

The action or process of closely monitoring or noting the behavior or characteristics of individuals or phenomena.

Performance-Based Assessment

The evaluation of an individual using a variety of informal assessment procedures that are often based on real-world responsibilities. This kind of assessment is not highly loaded for cognitive skills, and these procedures are sometimes seen as an alternative to standardized testing (e.g., a portfolio). Type of informal assessment.