Validity of a Measure Is Best Defined as ________

question 74

Multiple Choice

Validity of a measure is best defined as ________.

• A) the upper limit of reliability
• B) the degree to which the measure does indeed measure what it is intended to measure
• C) the lower limit of reliability
• D) the consistency of measurement

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Definitions:

Industry Supply

The total output of goods or services that producers in an industry are willing and able to sell at different price levels, during a certain time period.

Long-run Supply Curve

A graphical representation showing the relationship between market price and the amount of goods supplied by producers, considering all factors of production can be varied.

Competitive Industry

An industry with many firms competing against each other, with no single firm dominating the market.

Relevant Resources

Resources that are directly applicable and valuable in achieving a specific goal or solving a particular problem.