If a Test Yields Nearly Identical Scores When It Is

question 87

Multiple Choice

If a test yields nearly identical scores when it is retaken after a two-month interval, the test is said to be

• A) valid.
• B) reliable.
• C) significant.
• D) standardised.

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Definitions:

Economic Profits

The disparity between a company's overall income and the sum of its explicit and implicit expenses.

Accounting Profits

The net income of a company after all expenses, including taxes and operating costs, have been subtracted from total revenues, according to standard accounting practices.

Perfectly Competitive

A market structure characterized by a large number of small firms, identical products, and free entry and exit, leading to price taking behavior.

Long-Run Equilibrium

A state in which all factors of production and costs are variable, allowing firms to enter and exit the market, and no economic forces are pushing for change.