Measured between two points on a curve, the ratio of the change in the variable on the vertical axis to the change in the variable on the horizontal axis is the:
A. axis.
B. slope.
C. dependent curve.
D. independent curve.
Answer: B
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The figure above shows the demand for fruit snacks. Which movement reflects a decrease in population?
A) from point a to point e B) from point a to point b C) from point a to point c D) from point a to point d
On any given day we know a salesman can earn $0 with a 30% probability, $100 with a 20% probability or $300 with 40% probability. His expected earnings equal
A) $0. B) $140. C) $300. D) It cannot be determined from the available information.
In long-run equilibrium, every perfectly competitive firm
a. maximizes its output b. chooses its plant size and output level to operate at minimum long-run marginal cost c. chooses its plant size and output level to operate at minimum long-run average total cost d. earns an economic profit e. suffers an economic loss
?The first step in estimating simultaneous equations models (SEMs) with panel data is to find instrumental variables for the endogenous variables in the transformed equation.
Answer the following statement true (T) or false (F)