Examlex
Which of the following methods for establishing cutoff scores uses judgments of the difficulty of test/predictor items?
Fed Increases
Refers to the Federal Reserve raising interest rates or tightening monetary policy, typically to combat inflation or overheating in the economy.
Adverse Supply Shock
A situation where the supply of goods decreases suddenly, leading to higher prices and lower quantities available.
Short-Run Aggregate-Supply Curve
Depicts the relationship between the price level and the quantity of goods and services that firms are willing to produce, taking some inputs as fixed.
Short-Run Phillips Curve
A graphical representation that shows the inverse relationship between short-term inflation and unemployment rates, suggesting a trade-off.
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