Recall the Application about the free-agent market for professional baseball pitchers to answer the following question(s).Recall the Application. Baseball players who switch teams are more likely to suffer from injuries because the player's ________ team has superior information concerning the health of the player and, if they believe the player will be prone to injury in the future, they ________ be willing to outbid another team.
A. new; will not
B. old; will not
C. new; will
D. old; will
Answer: B
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National income is equal to
A) GDP minus depreciation. B) GNP plus depreciation. C) disposable personal income plus depreciation plus personal taxes. D) personal income minus personal taxes.
Determinants of income differences include all of the following EXCEPT
A) age. B) marginal productivity. C) moral hazard. D) discrimination.
The price elasticity of demand equals 1:
A. whenever the slope of a straight-line demand curve equals zero. B. at the midpoint of a straight-line demand curve. C. whenever the slope of a straight-line demand curve is greater than 1 in absolute value. D. whenever the slope of a straight-line demand curve is less than 1 in absolute value.
Suppose the variable 
has been omitted from the following regression equation, 
is the estimator obtained when
src="@@PLUGINFILE@@/ppg__cognero__Ch_03_Multiple_Regression_Analysis_Estimation__media__def961f9-c383-4603-be40-6b7c9396899a.PNG" style="vertical-align:-9px;" height="25px" width="17px" /> is omitted from the equation. The bias in 
is negative if _____.
A. 
>0 and 
and 
are positively correlated
B. 
<0 and 
and 
are positively correlated
C. 
=0 and 
and 
are negatively correlated
D. 
=0 and 
and 
are negatively correlated