Kelly Is Taking an IQ Test

question 20

Multiple Choice

Kelly is taking an IQ test.The test has a very strict protocol--she only gets 15 minutes for each section of the test, and all the items are presented to her in the same order as they are to any other person taking the test.The scoring is very objective, and Kelly's answers are scored using the same criteria anyone else's answers are scored against. All of these procedures contribute to the test's

• A)standardization.
• B)validity.
• C)reliability.
• D)accuracy.

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Definitions:

Competitive Price

The market price at which goods are sold in a perfectly competitive market, where no single buyer or seller can influence the price.

Fixed-Coefficient Technology

A production process where input ratios are constant and cannot be substituted for one another in the production process.

Demand Function

A mathematical relationship that describes how the quantity demanded of a good or service varies with changes in its price, and possibly other factors.

Horizontal Labor Supply Curve

A graphical representation suggesting that a worker's willingness to work does not change regardless of wage increases over a certain range.