When testing joint hypothesis, you can use
A) the F- statistic
B) the chi-squared statistic
C) either the F-statistic or the chi-square statistic
D) none of the above
Answer: C) either the F-statistic or the chi-square statistic
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If the real interest rate is above the equilibrium real interest rate
A) lenders will be unable to find borrowers willing to borrow all of the available funds and the real interest rate will fall. B) borrowers will be unable to borrow all of the funds they want to borrow and the real interest rate will rise. C) lenders will be unable to find borrowers willing to borrow all of the available funds and the real interest rate will rise. D) borrowers will be unable to borrow all of the funds they want to borrow and the real interest rate will fall.
A nation that lacks sufficient capital given its size even though it has ample natural resources is
a. the United States. b. Japan. c. Canada. d. China.
Which of the following would most likely shift the supply curve to the left for Wii video games?
a. an increase in the price of Wii video games b. a decrease in the price of computer chips used to make Wii games c. a decrease in the demand for Wii games d. an increase in the price of electronic components used to produce the Wii games
Which of the following statements is a major criticism of a pure monopoly as a source of allocative inefficiency?
A. A pure monopoly fails to expand output to the level where the price of an additional unit is just equal to its marginal cost. B. A pure monopoly will always generate economic profit, and that means that prices are too high. C. A pure monopoly has an unfair advantage because it can purchase labor at a lower price than perfectly competitive firms can. D. A pure monopoly has no incentive to produce efficiently, because even the inefficient pure monopoly can be assured of economic profits.