On a Graph We Draw a Consumer's Budget Constraint, Measuring

question 553

Multiple Choice

On a graph we draw a consumer's budget constraint, measuring the number of pineapples on the horizontal axis and the number of pencils on the vertical axis. If the slope of the budget constraint is -6, then

• A)a pineapple costs six times as much as a pencil.
• B)the opportunity cost of a pineapple is 6 pencils.
• C)the opportunity cost of a pencil is one-sixth of a pineapple.
• D)All of the above are correct.

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Definitions:

Test-Retest Correlation

A measure of the consistency of a psychological test or assessment over time by administering the same test to the same individuals on two different occasions.

Median

The score that falls in the middle of all the scores on the test; also called the 50th percentile.

Predictive Validity

When a scale is related to a concrete outcome or behavior.

Discriminant Validity

The extent to which a construct is truly distinct from other constructs by empirical standards, often assessed through its lack of correlation with unrelated constructs.