According to a Report by the U

question 21

Multiple Choice

According to a report by the U.S.Merit Systems Protection Board,a quasi-judicial agency that serves as the guardian of federal merit systems,structured interviews are _____ as nondirective interviews to predict on-the job performance.

• A)twice as likely
• B)half as likely
• C)just as likely
• D)four times as likely

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Definitions:

Substitution Effect

The substitution effect describes a change in consumption patterns due to shifts in relative prices, where consumers prefer cheaper alternatives when the price of a good rises, keeping their utility level constant.

Inferior Good

A type of good for which demand decreases as the income of the consumer increases, in contrast to a normal good.

Indifference Curves

A graph showing different bundles of goods between which a consumer is indifferent.

Utility Levels

Measures of satisfaction or happiness that consumers derive from consuming goods and services.