The market price can sometimes be difficult to identify due to which of the following?
A. Sale prices and negotiated prices
B. The laws of supply and the law of demand
C. Equilibriums and opportunity costs
D. Satiation and zero prices
Answer: A
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Which of the following will lead to an increase in the gross domestic product of a country, all other variables remaining unchanged?
A) An increase in imports B) An increase in consumption expenditure C) A fall in the expenditure incurred by the government D) A fall in the expenditure on investment goods
If an economy is operating __________ its institutional production possibilities frontier, it is producing __________ output than it would be at full employment
A) below; less B) below; more C) above; less D) above; more E) a and d
There are n-1 degrees of freedom in Ordinary Least Square residuals.
Answer the following statement true (T) or false (F)
When the price of one good increases, the associated income effect is represented by a move from one indifference curve to a:
A. higher indifference curve since real income is now higher. B. lower indifference curve since real income is now higher. C. higher indifference curve since real income is now lower. D. lower indifference curve since real income is now lower.