In the simple linear regression model, the regression slope
A) indicates by how many percent Y increases, given a one percent increase in X.
B) when multiplied with the explanatory variable will give you the predicted Y.
C) indicates by how many units Y increases, given a one unit increase in X.
D) represents the elasticity of Y on X.
Answer: C
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Refer to Table 4-3. The table above lists the marginal cost of polo shirts by Marko's, a firm that specializes in producing men's clothing. If the market price of Marko's polo shirts is $30, Marko's will produce
A) 0 shirts. B) 1 shirt. C) 3 shirts. D) 4 shirts.
What is the type of economic system that relies on one central authority to make economic decisions?
A) free market B) price system C) command and control D) mixed economic system
Which of the following provisions was not a component of the Intolerable Acts?
a. Permitted British officials charged with crimes to be tried in Britain. b. Raised taxes in Boston to pay for the tea destroyed during the Boston Tea Party. c. Provided for the quartering of troops in the city of Boston. d. Revised the charter of Massachusetts to make some rights dependent on the decisions of a governor who was appointed by England.
All of the following statements are true except
A. Until 1971 the United States had run a trade surplus virtually every year of the 20th century. B. The U.S. ran relatively small trade deficits through most of the 19th century. C. The U.S. was the only industrial power to raise tariffs during the 1930s. D. World trade in the 1930s dwindled to a fraction of what it had been in the 1920s.