The short run is the time frame
A) during which the quantities of all resources are fixed.
B) that is less than a year.
C) during which the quantities of some resources are fixed.
D) during which the quantities of all resources are variable.
E) during which all costs are implicit costs.
C
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Briefly describe the difference between the following models: censored and truncated regression model, count data, ordered responses, and discrete choice data. Try to be specific in terms of describing the data involved
What will be an ideal response?
The relationship between consumption and disposable income is such that as
a. consumption rises, disposable income falls. b. disposable income rises, consumption rises. c. disposable income rises, consumption falls. d. disposable income rises, saving falls.
Suppose you bought a concert ticket from Ticketmaster for $50, but when you get to the concert, there are a large number of people waiting outside who offer to pay you more than $50 for your ticket. What is probably true?
A. There is an excess demand for tickets at the Ticketmaster price. B. There is an excess supply of tickets at the Ticketmaster price. C. The Ticketmaster price is the equilibrium price. D. The Ticketmaster price was above the equilibrium price.
In 2011, the Census Bureau introduced an alternate poverty measure that is based on:
A. the price of housing, and adjusts for geographic differences in the cost of living. B. the average income of the lowest quartile of income earners. C. the prices of food, clothing, shelter, and utilities, and adjusts for geographic differences in the cost of living. D. the price of food, and adjusts for geographic differences in the cost of living.