The secondary effects of an economic action refer to the
What will be an ideal response?
the unintended consequences of a change that are not immediately identifiable but are felt over time.
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A "normal good" is defined as any good in which
A) a rise in its price will reduce quantity demanded. B) a fall in its price will increase quantity demanded. C) a rise in income will reduce overall demand. D) a fall in income will reduce overall demand.
The percentage of hours worked by college educated workers since the 1960s has ________
A) fallen B) stayed essentially unchanged C) increased D) moved in the opposite direction of the college premium
A problem with using the price of a product similar to the intermediate good sold on the market is
a. the market price includes a margin above marginal cost b. the product on the market may include costly features your downstream division does not use c. the product on the market may be cheap because it is not as high of quality as your downstream division uses d. all of the above
The F statistic is also referred to as the score statistic.
Answer the following statement true (T) or false (F)