What Is the Relationship Between Socioeconomic Status, Ethnicity, and IQ

question 76

Multiple Choice

What is the relationship between socioeconomic status, ethnicity, and IQ?

• A) Within an ethnic group, there is still an effect of social class.
• B) Within an ethnic group, there is no effect of social class.
• C) SES, ethnicity, and IQ are unrelated variables.
• D) IQ is related to ethnicity, but not to social class.

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Definitions:

Opportunity Costs

The cost of foregoing the next best alternative when making a decision.

Credit Policy

Guidelines that a company follows to determine the creditworthiness of customers, the terms of credit to extend, and how to collect payments.

Economic Order Quantity

A calculation used to determine the most cost-effective quantity of inventory to order, minimizing both ordering and holding costs.

Safety Stock

Additional inventory beyond expected demand, kept on hand to prevent stockouts typically caused by uncertainties in supply or demand.