Standardized coefficients are also referred to as:
A. beta coefficients.
B. y coefficients.
C. alpha coefficients.
D. j coefficients.
Answer: A
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The long run is a time period that is
A) five years or longer. B) long enough to change the amount of labor employed. C) long enough to change the size of the firm's plant and all other inputs. D) long enough to change the amount of labor employed but not to change the size of the plant. E) None of the above answers describes the long run.
Katya owns a math-tutoring business. Her accountant most likely includes which of the following costs on her financial statements? (i) workbooks containing practice problems (ii) rent for the storefront (iii) wages Katya could earn as a bookkeeper (iv) interest that Katya's money was earning before she spent her savings to set up the tutoring business
a. (i) only b. (i) and (ii) only c. (iii) and (iv) only d. (i), (ii), (iii), and (iv)
The external marginal cost of producing coal is MCexternal = 8Q while the internal marginal cost is MC internal = 6Q. The inverse demand for coal is given by P = 180 ? 4Q. How much output would a competitive industry produce?
A. 10 B. 20 C. 18 D. 15
Answer the following statement true (T) or false (F)
1) Other things equal, the shorter the loan period and the larger the loan size, the higher is the interest rate charged by the lender. 2) The supply of loanable funds is perfectly elastic. 3) Economic profits are the salaries received by the hired managers of business corporations. 4) The basic function of profits and losses is to allocate society's scarce resources to their highest valued uses. 5) Broadly defined, labor's share of national income has been remarkably stable since 1900.