Exhibit 8-4: Select the Type of Problem Likely to Be

question 80

Multiple Choice

Exhibit 8-4: Select the type of problem likely to be made in the situations listed.
-Refer to Exhibit 8-4.A researcher using a five-point rating scale to assess kindergartners' creativeness in their drawing gives only ratings of 4 or 5.

• A) Observer bias
• B) Error of leniency
• C) Error of central tendency
• D) Halo effect
• E) Contamination

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Definitions:

Demand Curve

A graphical representation showing the relationship between the price of a good or service and the quantity demanded by consumers at various prices.

Supply Curve

A graphical representation of the relationship between the price of a good and the quantity of the good that suppliers are willing to sell.

Perfectly Inelastic Demand

A situation in which the demand for a product does not change as the price changes.

Perfectly Elastic Supply

describes a market situation where the quantity supplied can change infinitely in response to any change in price.