As Used in the Stanford-Binet Scale, the Deviation IQ Is

question 33

Multiple Choice

As used in the Stanford-Binet Scale, the deviation IQ is a standard score with a

• A)mean of 100 and standard deviation of 10.
• B)mean of 100 and standard deviation of 15.
• C)mean of 100 and standard deviation of 16.
• D)mean of 50 and standard deviation of 8.

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Definitions:

Economic Profits

The difference between a firm's total revenues and its total costs, including both explicit and implicit costs.

Normal Profits

The level of profit that is necessary for a company to remain competitive in the market, often seen as the minimum acceptable return.

Short Run

Refers to a period in economics where certain inputs or resources are fixed and cannot be changed, contrasting with the long run where all factors are variable.

Long Run

A period in which all factors of production and costs are variable, allowing for adjustment to changes in the market or economy.