Roger Wants to Study Whether the Level of Personal Income

question 23

Multiple Choice

Roger wants to study whether the level of personal income predicts happiness.He operationally defines income as "the gross amount of money a person earns in a calendar year." He operationally defines happiness as "the ability of that person to stand on one leg for longer than 3 minutes." What is glaringly wrong with Roger's study?

• A)It lacks validity;income can be measured,but happiness cannot.
• B)It lacks reliability;the operational definitions of the properties under study produce inconsistent measurements.
• C)It lacks validity;the operational definition of happiness is unrelated to the underlying property of happiness.
• D)It lacks reliability;it is difficult to precisely measure both income and happiness.

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Definitions:

Natural Monopoly

A type of monopoly that exists due to the high fixed or startup costs of operating a business in a specific industry, making it inefficient for more than one firm to operate.

Marginal Cost

The increase in cost resulting from the production of one additional unit of a product.

Demand Curve

A graphical illustration that demonstrates the link between the cost of an item and how much of it consumers are willing to buy.

Average Total Cost

Represents the total costs of production (both fixed and variable) divided by the quantity of output produced, indicating the cost per unit of output.