In General, When a Measure Has Good Convergent and Discriminant

question 6

Multiple Choice

In general, when a measure has good convergent and discriminant validity

• A) the correlations that measure convergent validity will be about r = 1.0 and correlations that assess discriminant validity will be about r = 0.00.
• B) the correlations will not approach r = 1.0 or r = 0.00, due to random error and the fact that many different conceptual variables are likely to be at least somewhat related to each other,.
• C) it will not be possible to differentiate the size of the correlations that represent convergent validity from the size of the correlations that represent discriminant validity.
• D) the concurrent validity of the relationships will be greater than the criterion validity of the relationships.

Calculate GDP using different approaches and understand the concept of net exports.

Understand the impact of government transactions, transfer payments, and international trade on GDP.

Explain the significance of investment spending and the types of goods included in it.

Assess and calculate the effect of price changes on economic indicators using the GDP deflator.

---

Definitions:

Quantity Demanded

The quantity of a product or service buyers are prepared and capable of buying at a specific price.

Quantity Supplied

This term refers to the total amount of goods that sellers are ready to sell in the market at a certain price point, within a defined time frame.

Price Ceiling

A legal maximum price that can be charged for a good or service, aimed at preventing prices from becoming too high.

Rent Control Program

Government policies that limit the amount landlords can charge for rent to make housing more affordable for tenants.