Which of the following is a basic assumption of an economic analysis?
a. Private property rights exist and are secure
b. A controlled market structure is the key to economic growth.
c. In a free market, resources are owned by the government.
d. There are no private property rights under a free market economy.
e. Social well-being is the prime objective of an entrepreneur.
a
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What is the basic problem of developing countries?
A) corruption B) murder C) poverty D) stock market E) natural resources
A 95% confidence interval
A) indicates that there is 95% confidence that the value of the estimated coefficient is correct. B) indicates that there is 95% confidence that the degrees of freedom explain the data correctly. C) is a range of of values that gives a 95% probability that the true value of the coefficient is within the specified interval. D) is the probability that we have obtained the true value of the coefficient with 95% accuracy.
When asked to reveal their true preferences people
A. always tell the truth. B. never tell the truth. C. sometimes tell the truth. D. generally don't know what preferences are.
Pharmaceutical development provides a good example of rent-seeking behavior, the pursuit of which results in _______.
a. lower economic activity by diverting resource to less-productive uses b. lower prices throughout the economy c. increased economic activity by promoting efficiency d. a more equitable distribution of income and wealth e. greater income and wealth in the private sector