Public choice deals exclusively with business decisions
Indicate whether the statement is true or false
False
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If the growth rate for GDP was 9 percent and GDP in year 1 was 100, then GDP in year 2 would be
A) 90. B) 109. C) 190. D) 199.
Who are the only ones not affected by a Pigouvian tax when a negative externality exists in a market?
A. Consumers B. Those affected by the externality C. Producers D. All of these groups are affected when it becomes internalized.
A consulting firm estimates the following quarterly sales forecasting model:Qt = a + bt +cDThe equation is estimated using quarterly data from 2005 I -2015 III (t = 1,..., 43). The variable D is a dummy variable for the second quarter where: D = 1 in the second quarter, and 0 otherwise. The results of the estimation are: 
Using the estimated trend line above, what is the predicted level of sales in 2016 I ?
A. 106.20 B. 102.2 C. 104.34 D. 110.06 E. none of the above
In a recent court case, an expert witness defined a monopoly as a firm that can "raise price without reducing its total revenue." What does this imply about the elasticity of demand? Would this definition hold for a profit-maximizing monopoly? Explain
What will be an ideal response?