Examlex
For a particular good, a 3 percent increase in price causes a 10 percent decrease in quantity demanded. Which of the following statements is most likely applicable to this good?
External Validity
The extent to which the results of a study can be generalized to other situations and to other people outside of the experimental setting.
Construct Validity
The degree to which a test or instrument measures the theoretical construct or psychological concept it intends to measure.
Population
The total number of people under consideration.
Sample
A subset of individuals from a larger population, selected for participation in a research study, meant to represent the larger group.
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