Examlex
Dr.Richards has developed the Wide-Range Intelligence Test (WRIT) .All but which of the following would suggest that this instrument has good validity?
Budget Constraint
The limit that the size of a consumer’s income (and the prices that must be paid for goods and services) imposes on the ability of that consumer to obtain goods and services.
Money Income
The total amount of monetary earnings received by an individual or household over a certain period of time, before taxes and deductions.
Law of Diminishing Marginal Utility
The economic principle that states as a person increases consumption of a product, there is a decline in the marginal utility that person derives from consuming each additional unit of that product.
Total Utility
The total satisfaction or benefit derived from consuming a particular quantity of goods or services.
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