The Index of Economic Freedom measures:
a. market orientation
b. market concentration.
c. price elasticity.
d. market power.
a
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Heterogeneous population
A) implies that heteroskedasticity-robust standard errors must be used. B) suggest that multiple characteristics must be used to describe the population. C) effects can be captured through interaction terms. D) refers to circumstances in which there is unobserved variation in the causal effect with the population.
A 10 percent rise in the price of housing reduces the quantity demanded of housing by 3 percent. We can conclude that the demand for housing is:
A. inelastic. B. elastic. C. unitary elastic. D. perfectly elastic.
Many call centers that provide telephone customer services for U.S. companies have been established in India, but few or none have been established in China. Why?
A. China lacks the political infrastructure to support call centers. B. China is at a more advanced stage of economic development than India. C. Indian labor costs are lower than Chinese labor costs. D. Chinese labor lacks the specific language skills needed to make call centers profitable in China.
In the United States, ________ percent of all firms are corporations
A) 18 B) 60 C) 72 D) 82