The coefficient of determination is defined as the:
A) ratio of the total sum of squared errors to the sum of squared errors.
B) ratio of the regression sum of squares to the sum of the squared errors.
C) ratio of the sum of squared errors to the total sum of squared errors.
D) none of the above.
C
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Which of the following is likely to be used as a signal in the job market?
A) The job description B) The degree obtained by the applicant C) The letter of appointment D) An announcement of vacancy
_____ have faith in the free market (price) system that leads them to favor minimal government intervention
a. New Keynesian economists b. Traditional Keynesian economists c. Monetarist economists d. Traditional classical economists e. New classical economists
If whooping cranes generate benefits to some members of society by merely their continued existence, then economic markets will consider this in arriving at a level of their provision "as if by an invisible hand."
Indicate whether the statement is true or false
Josiah installed a metal sculpture in his front yard. A positive externality arises if the sculpture
a. increases the value of other properties in the neighborhood. b. increases the value of Josiah's home c. is visually unappealing to Josiah's neighbors. d. creates a safety hazard for neighborhood children.