Tammy Is Creating a Composite Measure to Examine Life Satisfaction

question 20

Multiple Choice

Tammy is creating a composite measure to examine life satisfaction and she is trying to decide whether to include the categories of very very dissatisfied and very very satisfied or to simply leave the extreme categories as very dissatisfied and very satisfied. She turns to you for help. Which of the following statements would not help her because it is FALSE?

• A)This is a variance issue.
• B)Typically, as the possible extremes of an index are extended, fewer cases are to be found in each extreme.
• C)The range of measurement in an index is an advantage of an index and therefore she should include the most extreme categories to take advantage of the full range.
• D)She needs to think about both the range of her index and whether there will be an adequate number of cases at each point in the index.
• E)She needs to consider whether it adds important information to her study to know about the most extreme categories.

Explain the logic of liquidity preference theory and its effect on aggregate demand.

Understand the reasons for the downward slope of the aggregate-demand curve and the significance of the wealth, interest-rate, and exchange-rate effects.

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Definitions:

Task Analysis

The examination and breakdown of tasks to understand their components, processes, and the skills required for their completion.

Formal Authority

Formal authority refers to the power or right to make decisions, command subordinates, and enforce obedience, typically granted by a position within an organizational hierarchy.

Blending Team Members

The process of integrating individuals with diverse backgrounds, skills, and perspectives into a cohesive team.

Temporary Endeavor

A unique project or program established to achieve a specific goal or set of objectives within a defined timeframe.