Expenditures for attending college can be viewed as an investment in human capital
a. True
b. False
Indicate whether the statement is true or false
True
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Refer to Scenario 7.1. Which piece of information would NOT be helpful in calculating the marginal cost of the 75th unit of output?
A) The total cost of 75 units B) The total cost of 74 units C) The variable cost of 75 units D) The variable cost of 74 units E) The firm's fixed cost
Which of the following would cause the consumption function to shift down?
a. A decrease in disposable income b. A decrease in taxes c. An increase in taxes d. An increase in the marginal propensity to consume e. None of the above
The economic way of thinking is
a. a set of historical generalizations that indicates what goods should be produced. b. a body of statistical data that indicates how an economy should be organized. c. a set of basic concepts that helps one understand human choices. d. a set of complex, highly abstract theories that provides persons skilled in statistics with the information necessary to tell others what choices they should make.
If the p-value is 10%, then the
A. level of confidence is 90%. B. level of significance is 10%. C. probability of a Type I error is 90%. D. both a and b E. null hypothesis should not be rejected if the level of significance is 5%