Changing the units of measurement, e.g. measuring testscores in 100s, will do all of the following EXCEPT for changing the
A) residuals
B) numerical value of the slope estimate
C) interpretation of the effect that a change in X has on the change in Y
D) numerical value of the intercept
Answer: C
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________ is the ability of an individual, a firm, or a country to produce a good or service at a lower opportunity cost than competitors
A) Autarky B) Absolute advantage C) Comparative advantage D) Specialization
What are some of the advantages of trading in decentralized electronic exchanges?
What will be an ideal response?
Transfer payments are not part of government expenditure on goods and services because transfer payments
A) are not predictable given the nature of their appropriation and allocation. B) do not represent the purchase of a final good or service. C) are not always spent on goods produced in the U.S. D) The premise of the question is incorrect because transfer payments are part of government purchases of goods and services.
The city of Burlington is a very popular town for tourists to visit in the summer. We would expect the:
A. demand for normal goods to increase each summer. B. demand for normal goods to decrease each summer. C. prices of all normal goods to decrease each summer. D. demand curve for normal goods to shift to the left.