When Factor Supply Is Fixed and Quantity of the Factor

question 91

Multiple Choice

When factor supply is fixed and quantity of the factor is graphed on the horizontal axis while factor price is graphed on the vertical axis, the factor:

• A) supply curve is horizontal.
• B) supply curve is vertical.
• C) supply curve slopes up to the right.
• D) demand curve slopes up to the right.

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Definitions:

Concurrent Validity

The degree to which the results of a new test correlate with those from a well-established test measuring the same construct.

Criterion Data

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Instruments or techniques used by organizations to evaluate and choose the best candidates for a job.