A Computer Manufacturer's Elasticity of Demand for Labor Is Not

question 236

Multiple Choice

A computer manufacturer's elasticity of demand for labor is not likely to be affected by the

• A) supply of computers.
• B) price elasticity of demand for computers.
• C) ratio of labor cost to other resource costs in the firm.
• D) ease of substituting capital for labor in producing computers.

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Definitions:

Test-Retest Correlation

A measure of the consistency of a psychological test or assessment over time by administering the same test to the same individuals on two different occasions.

Median

The score that falls in the middle of all the scores on the test; also called the 50th percentile.

Predictive Validity

When a scale is related to a concrete outcome or behavior.

Discriminant Validity

The extent to which a construct is truly distinct from other constructs by empirical standards, often assessed through its lack of correlation with unrelated constructs.