A Graphic Rating Scale Used with Unclear Standards May Appear

question 46

Multiple Choice

A graphic rating scale used with unclear standards may appear to be objective, however, it will probably result in unfair appraisals because the traits and degrees of merit are

• A)open to interpretation.
• B)tightly structured.
• C)well defined.
• D)specific in nature.
• E)too strict/lenient.

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Definitions:

Interest Rate

A cost, depicted as a proportion of the borrowed sum, which a lender demands from a borrower in exchange for asset usage.

Rational Behavior

A theory in economics suggesting that individuals make decisions based on maximizing utility and firms aim to maximize profits.

Smooth Convex Preferences

Preferences characterized by continuous and consistently increasing utility, indicating a reasoned and balanced choice pattern.

Borrow

The act of receiving something of value in exchange for the promise to return it or its equivalent value at a later date.