If the capital stock decreases, then the economy will produce ____ output with the ____ amount of labor
a. same, same
b. less, same
c. more, same
d. more, decreased
b
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A study based on OLS regressions is internally valid if
A) the errors are homoskedastic, and there are no more than two binary variables present among the regressors. B) you use a two-sided alternative hypothesis, and standard errors are calculated using the heteroskedasticity-robust formula. C) weighted least squares produces similar results, and the t-statistic is normally distributed in large samples. D) the OLS estimator is unbiased and consistent, and the standard errors are computed in a way that makes confidence intervals have the desired confidence level.
Which is likely to be larger, the velocity of M1 or M2?
a. M1, because M2 is a larger number. b. M2, because M1 is a larger number. c. The velocities of both are approximately equal. d. The numbers of velocity switch in relative size.
The reason that the prisoner's dilemma presents a dilemma is that:
A. each player has an incentive to play his or her dominant strategy, but when both choose the dominant strategy each player has a lower payoff than if they both had chosen the dominated strategy. B. neither player has a comparative advantage, so neither can infer what the other player will choose. C. each player has an incentive to play his or her dominated strategy, but when both choose the dominated strategy each player has a lower payoff than if they both had chosen the dominant strategy. D. the market cannot be in equilibrium because the players do not have dominant strategies.
The amount of exercise that one gets is an important factor in the determination of his general state of health. This is best described as
A. an example of marginalism. B. a positive statement. C. an example of the fallacy of logic. D. a normative statement.