Which is NOT true about the coefficient of determination?
a. As you add more variables, the R-square generally rises.
b. As you add more variables, the adjusted R-square can fall.
c. If the R-square is above 50%, the regression is considered significant.
d. The R-square gives the percent of the variation in the dependent variable that is explained by the independent variables.
e. The higher is the R-square, the better is the fit.
c
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Jason can maximize his satisfaction by allocating time among market work, nonmarket work, and leisure so that the final marginal utilities per hour spent in each activity are identical
a. True b. False
A sole proprietorship produces only one good
Indicate whether the statement is true or false
Economics is best defined as the study of
A) financial decision-making. B) inflation, unemployment, and economic growth. C) the choices made by people faced with scarcity. D) how consumers make purchasing decisions.
In the 17th century, the Middle colonies:
a. primarily produced crops using slaves on large plantations. b. primarily produced crops that are associated with large economies of scale. c. exported large amounts of wheat and flour to the West Indies. d. are often referred to as "a mercantilist's dream.".