Shelter for homeless people is an example of
A. something hard to find
B. a want
C. something they can live without
D. a need
Answer: D
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Why have poor nations invested so much money in education and health? Evaluate the soundness of these reasons
What will be an ideal response?
In the press, there has been a considerable amount of attention given to the notion of corporations being taxed. Explain how it is that a tax on a business could be borne entirely by consumers.
What will be an ideal response?
Misspecification of functional form of the regression function
A) is overcome by adding the squares of all explanatory variables. B) is more serious in the case of homoskedasticity-only standard error. C) results in a type of omitted variable bias. D) requires alternative estimation methods such as maximum likelihood.
Assuming that the demand for a good has decreased and the supply of a good has increased by the same amount, then:
a. The change in price is determinate but the change in quantity is indeterminate. b. The change in quantity is determinate but the change in price is indeterminate. c. Neither the change in price nor the change in quantity will be indeterminate. d. Both the change in price and the change in quantity will be indeterminate.