Refer to Table 4-8. If a minimum wage of $9.50 an hour is mandated, what is the quantity of labor demanded?
A) 380,000 B) 370,000 C) 360,000 D) 10,000
C
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Which of the following statements is a positive statement?
A) Our country must increase military spending. B) There should be a computer in every elementary school classroom. C) We need to spend less on luxury items for the wealthy, and more on necessities for the less fortunate. D) Online shopping increased by 50 percent this Christmas season. E) Too many people are unemployed.
If the purchasing power of a dollar is less than the purchasing power of the euro, purchasing power parity would predict that
A) in the long run, interest rates will move to equalize the purchasing power of the dollar and the euro. B) in the short run, interest rates will move to equalize the purchasing power of the dollar and the euro. C) in the short run, exchange rates will move to equalize the purchasing power of the dollar and the euro. D) in the long run, exchange rates will move to equalize the purchasing power of the dollar and the euro.
Your textbook plots the estimated regression function produced by the probit regression of deny on P/I ratio The estimated probit regression function has a stretched "S" shape given that the coefficient on the P/I ratio is positive. Consider a probit regression function with a negative coefficient. The shape would
A) resemble an inverted "S" shape (for low values of X, the predicted probability of Y would approach 1) B) not exist since probabilities cannot be negative C) remain the "S" shape as with a positive slope coefficient D) would have to be estimated with a logit function
Refer to the diagram. At output level Q, total variable cost is Multiple Choice
A. BCDE. B. 0AFQ. C. 0CDQ. D. 0BEQ.