Per capita GDP can be defined as
a. GDP per working person.
b. GDP per unit of capital.
c. GDP per person.
d. GDP per unit of unemployment.
c
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Use the graph above to answer the following question. What can we conclude about the attitude towards risk this individual is portraying given this utility function?
What will be an ideal response?
If the cost of producing sofas decreases, then consumer surplus in the sofa market will
a. increase. b. decrease. c. remain constant. d. increase for some buyers and decrease for other buyers.
If the residual sum of squares (SSR) in a regression analysis is 66 and the total sum of squares (SST) is equal to 90, what is the value of the coefficient of determination?
A. 0.73 B. 0.55 C. 0.27 D. 1.2
A positive temporary supply side shock will:
A. increase the level of potential output in the long run. B. decrease the price level in the long run. C. increase the price level in the long run. D. have no effect in the long run.