You are assigned a group project for the class, you will be graded as a group, and your individual grade will be decided on the group's performance relative to other groups. Would you like this arrangement?
What will be an ideal response?
Clearly, it depends on whether you are lazy or motivated. If you are lazy, you can free-ride on others' actions and get a grade way better than what you deserve. However, if you are a motivated student, then you probably don't want to be in a group, as it becomes exceedingly difficult to do your job and to make sure others do theirs as well. Probably the final grade you get might be lower than what you deserve.
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According to the functional distribution of income, in the United States
A) capital earns most of the income. B) labor earns most of the income. C) land earns most of the income. D) entrepreneurs earned most of the income. E) the income earned by capital and labor are approximately equal.
Which of the following is a form of capital for most economics professors?
A) Chalk B) Paper C) Calculators D) All of the above E) None of the above is capital, since economists define capital as liquid assets.
What is property income?
What will be an ideal response?
An auxiliary regression refers to a regression that is used:
A. when the dependent variables are qualitative in nature. B. when the independent variables are qualitative in nature. C. to compute a test statistic but whose coefficients are not of direct interest. D. to compute coefficients which are of direct interest in the analysis.