The Definition That Involves Specifying What Procedures Were Used to Measure

question 140

Multiple Choice

The definition that involves specifying what procedures were used to measure intelligence is called a(n) __________ definition.

• A)conditional
• B)contemporary
• C)operational
• D)normal curve

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Definitions:

Deadweight Loss

Deadweight loss is a loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved or is not achievable, often due to market failures, taxes, or subsidies.

Excise Tax

A tax levied on specific goods or services at purchase such as alcohol, tobacco, and gasoline.

Elastic

Describes a situation in which the demand for a product or service significantly changes in response to a change in its price.

Deadweight Loss

A loss of economic efficiency that can occur when the free market equilibrium for a good or a service is not achieved.