Which of the following is a reason for using independently pooled cross sections?
A. To obtain data on different cross sectional units
B. To increase the sample size
C. To select a sample based on the dependent variable
D. To select a sample based on the independent variable
Answer: B
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Refer to Figure 17-4. Which of the following is true at W2?
A) The supply curve is positively sloped. B) The income effect and the substitution effect are equal. C) The substitution effect is larger than the income effect. D) The income effect is larger than the substitution effect.
A minimum wage in the formal sector will likely
a. reduce the number of formal-sector workers b. increase labor supply and lower wages in the informal sector c. encourage rural-urban migration d. lead to increased mechanization in the formal sector e. all of the above
According to the factor price equalization theorem, free international trade will result in wages equating rents worldwide
Indicate whether the statement is true or false
The requirement that New York City taxi drivers own a "medallion" in order to operate a taxi in the city reduces competition and raises the fares that customers pay
a. True b. False