The supply curve for products that require skilled labor and a large amount of capital is usually_______
Fill in the blank(s) with the appropriate word(s).
Answer: inelastic
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An R2 close to 1
A) does not happen with real data. B) indicates that almost all of the variation in the dependent variable is explained by the regression. C) does not explain variation as well as an R2 that is above 2. D) means that the regression line does not fit the data very well.
The common currency of the Economic Monetary Union is the
a. franc. b. pound. c. euro. d. mark.
Christine is an artist who creates custom cookie jars. Her annual revenue from selling the cookie jars is $90,000 . The annual explicit costs of the materials used to make the cookie jars are $54,000 . Christine used $5,000 from her personal savings account to buy pottery tools for her business. The savings account paid 1% annual interest. Christine could earn $6,000 per year as a tax preparer
What is the annual accounting profit of her cookie jar business? a. $36,000 b. $35,950 c. $30,000 d. $29,950
Purchasing power parity is used to estimate:
A. changes in price levels, not exchange rates. B. changes in both short-run and long-run exchange rates. C. only changes in short-run exchange rates. D. only changes in long-run exchange rates.