What Is Economics Most Concerned With

question 23

Multiple Choice

What is economics most concerned with?

• A) how to reduce inflation
• B) how to profit from trading in the stock market
• C) studying how we allocate scarce resources to satisfy unlimited wants
• D) government taxation and spending

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Definitions:

Construct Validity

Evidence that a test measures a specific concept or trait. Construct validity includes an analysis of a test through one or more of the following methods: experimental design, factor analysis, convergence with other instruments, and/or discrimination with other measures.

Factor Analysis Validity

A statistical method used to examine whether a set of survey or test items correlates with underlying constructs, thereby validating the measure's theoretical assumptions.

Criterion-related Validity

The degree to which a test's outcomes correlate with other measures that assess similar constructs, determining how well one measure predicts an outcome based on another measure.

False Negative

A test result that incorrectly indicates the absence of a condition or attribute when it is actually present.