After Consistently Burning Dinner for a Month,John Found Out That

question 34

Multiple Choice

After consistently burning dinner for a month,John found out that his oven's temperature gauge was giving readings that were 50 degrees cooler than the oven's actual temperature.John's oven thermometer can be said to be:

• A) valid but not reliable.
• B) reliable but not valid.
• C) neither reliable nor valid.
• D) both reliable and valid.

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Definitions:

Future Earnings

The expected amount of money an individual, business, or asset is anticipated to generate in the future.

Behavioral Economists

Specialists in economics focusing on how psychological, emotional, cultural, and social factors influence the economic decisions of individuals and institutions.

Realized Losses

Losses that occur when an asset is sold for less than its purchase price, thereby converting a theoretical loss into an actual loss.

Aversion

A strong dislike or disinclination towards something, often used in economics in the context of risk aversion.