Total Product Is

question 48

Multiple Choice

Total product is

• A) the maximum output that a given quantity of labour can produce.
• B) the increase in output that results from a one- unit increase in the quantity of labour employed with all other inputs remaining the same.
• C) the maximum amount of output produced by a given quantity of labour divided by the given quantity of labour employed.
• D) the maximum amount of amount of output produced by a given quantity of labour divided by price of the output.

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Definitions:

Construct Validity

Construct validity is the extent to which a test measures what it claims to be measuring, reflecting the accuracy of an operationalization of a theoretical construct.

Split-half Reliability

This is a measure of consistency where a test is divided into two parts, and the scores from each half are compared to evaluate the test's reliability.

Test-retest Reliability

The reliability of a measurement determined by evaluating the same people on two separate occasions.

Interrater Reliability

A measure of the extent to which different observers or raters agree in their assessment decisions.