Using the "rule of 2," which of the following variables can be deemed statistically significant?
A) PA
B) PB
C) I
D) All of the above
E) None of the above
A
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Assume that the hourly price for the services of personal trainers has risen and sales of these services have also risen. One can conclude that
A) personal trainers are deliberately charging high prices because they provide services for wealthy clients. B) the demand for personal trainers has increased. C) the law of demand has been violated. D) the number of personal trainers has increased.
If the price elasticity of demand for a good is elastic, then consumers are relatively unresponsive with respect to the quantity purchased when the price changes
a. True b. False Indicate whether the statement is true or false
Legally, a patent grants a firm an exclusive right to its innovation for a period of
a. 1 year b. 5 years c. 10 years d. 14 years e. 17 years
Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; potential C. higher; higher D. lower; higher