A p-value of 0.03 means that there is only a 0.03% chance of obtaining the measured result.
Answer the following statement true (T) or false (F)
False
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Spending on items other than consumption represents about what percent of total output of goods and services?
A. 20 percent B. 30 percent C. 40 percent D. 60 percent
Answer the following statement(s) true (T) or false (F)
1. A parallel shift in the budget line is caused by changes in the relative prices of the two goods. 2. Parallel shifts in the budget line are considered when deriving the demand curve for a good. 3. An Engel curve shows the relationship between price and quantity demanded. 4. Normal goods have upward-sloping Engel curves. 5. If an Engel curve is downward sloping, then one of the two goods must be inferior.
Refer to the figure above. If this country is labor abundant, then according to the HO theory good X should be ________ intensive
A) capital B) labor C) both capital and labor D) Can't tell without more information
Other things equal, for a given tax, if the demand curve is more elastic,
a. the greater the tax revenue raised and the greater the deadweight cost of the tax. b. the greater the tax revenue raised and the smaller the deadweight cost of the tax. c. the less the tax revenue raised and the greater the deadweight cost of the tax. d. the less the tax revenue raised and the smaller the deadweight cost of the tax.