In the Production Function Y = F(K,NA),for a Given State

question 10

Multiple Choice

In the production function Y = f(K,NA) ,for a given state of technology,constant returns to scale implies that output (Y) will increase by 7% when

• A)K or NA increase by 7%.
• B)K and N increase by 7%.
• C)N or A increase by 7%.
• D)N and A increase by 7%.
• E) all of the above

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Definitions:

Validity Coefficients

Statistical measures that indicate the degree to which a test or measurement accurately predicts or correlates with a specific criterion or outcome.

Interpreting Guidelines

Standards or principles that guide the process of translating or explaining the meaning of information, such as test results or data.

Concurrent Validity

Validity assessment obtained when a test score and criterion performance measure are collected at approximately the same time.

Construct Validity

The extent to which a test measures what it claims to measure, indicating the accuracy of the theoretical concept.