When Social Costs of an Activity Exceed Private Costs

question 32

Multiple Choice

When social costs of an activity exceed private costs

• A) there is a tendency for resources to be under-utilized.
• B) this means that resources are being efficiently used.
• C) there is a tendency for resources to be over-utilized.
• D) None of the above is correct.

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Definitions:

Test-retest Reliability

The degree to which the same test or assessment yields consistent results over time when taken by the same individual under the same conditions.

External Validity

The extent to which the results of a study can be generalized to other situations and to other people.

Interrater Reliability

A measure of how consistently different observers or raters assess, score, or judge a particular trait, behavior, or outcome.

Placebo

A harmless pill, medicine, or procedure prescribed more for the psychological benefit to the patient than for any physiological effect.