A usury law is a price _______ and leads to a _______ of loanable funds.
A. floor; surplus
B. floor; shortage
C. ceiling; surplus
D. ceiling; shortage
D. ceiling; shortage
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If a production technology has diminishing marginal product of all inputs throughout, then the producer choice set is convex.
Answer the following statement true (T) or false (F)
Warranties in the used car market ________ the problem of private information thereby causing the price of good and bad used cars to ________
A) reduce; be the same B) reduce; differ C) magnify; be the same D) magnify; differ
Consider the equation, y = 
+ 
1x1+ 2x2 + u. A null hypothesis, H0:
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A. x2has no effect on the expected value of 2.
B. x2 has no effect on the expected value of y.
C. 2 has no effect on the expected value of y.
D. y has no effect on the expected value of x2.
From 1960 to 1980, federal government spending on national defense _____
a. declined from about half to less than one quarter of all expenditures b. declined from one-third to less than one quarter of all expenditures c. increased from about half to nearly 60 percent of all expenditures d. increased from about one quarter to nearly one-half of all expenditures