In the above figure, the marginal propensity to consume (MPC) equals
A. 0.8.
B. 0.9.
C. 0.85.
D. 0.75.
Answer: B
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Which economist defined the characteristics of an ideal voting system in his book Social Choice and Individual Values?
A. Gary Becker B. Kenneth Arrow C. Dean Karlan D. Jonathan Morduch
To test whether the overall regression equation is statistically significant one uses
A. the standard error statistic. B. the F-statistic. C. the t-statistic. D. the R2-statistic.
Recall the Application about the salaries paid in Major League Baseball to answer the following question(s). Some Major League Baseball players are free agents, meaning they are free to negotiate a contract with any team. Other players are journeymen and apprentices, who are restricted to a single team.Recall the Application. On average, free agents in Major League Baseball tend to be paid a salary ________ their marginal revenue product.
A. significantly higher than B. significantly lower than C. close to D. unrelated to
Kate and Alice are small-town ready-mix concrete duopolists. The market demand function is Qd = 20,000 - 200P, where P is the price of a cubic yard of concrete and Qd is the number of cubic yards demanded per year. Marginal cost is $80 per cubic yard. The Cournot model describes the competition in this market. If Kate produces 10,000 cubic yards per year, what is Alice's inverse demand function?
A. P = 75 - 0.005QK B. P = 75 - 0.005QA C. P = 50 - 0.005QK D. P = 50 - 0.005QA