MATCHING KEY TERMS AND DEFINITIONS

question 32

Multiple Choice

MATCHING KEY TERMS AND DEFINITIONS
-Refers to a test valid for screening applicants for a variety of jobs and performance factors across occupations.

• A)Performance simulation test
• B)Weighted application forms
• C)Application
• D)Reliability
• E)Criterion-related validity
• F)Background investigation
• G)Concurrent validity
• H)Qualified privilege
• I)Work sampling
• J)Behavioral interview
• K)Validity generalization
• L)Predictive validity
• M)Cut score
• N)Validity
• O)Interviewer bias

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Definitions:

Consumer Surplus

The differential between the overall amount consumers are willing and financially prepared to spend on a good or service, and what they end up spending.

Producer Surplus

The difference between what producers are willing to accept for a good versus what they actually receive, essentially the extra benefit to producers from selling at the market price.

Deadweight Loss

A loss of economic efficiency that occurs when the equilibrium for a good or a service is not achieved or is unobtainable.

Producer Surplus

The difference between the amount that producers are willing to accept for a good or service and the actual amount they receive.