Which panel of Figure 3.3 represents the changes in the market for student housing when university enrollment increases and at the same time the university destroys several older residence halls and apartment buildings?
A. A.
B. B.
C. C.
D. D.
Answer: C
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The inflation rate = ________
A) nominal GDP - real GDP B) growth rate in real GDP - growth rate in nominal GDP C) growth rate in real GDP + growth rate in nominal GDP D) nominal GDP ÷ real GDP E) none of the above
Which of the following is a public good?
A. public defense B. public television C. a library D. schools E. all of these answer options are correct.
?A common form of sample selection that does not observe the dependent variable because of the outcome of another variable is called _____.
A. ?nonrandom sample selection B. ?exogenous sample selection C. ?incidental truncation D. ?endogenous sample selection
Suppose quantity demanded is given by Qd = 100-P, and quantity supplied is given by Qs = 20 + 3P. In this case, equilibrium price, P*, and equilibrium quantity, Q*, are as follows:
A. P* = 10, Q* = 90 B. P* = 80, Q* = 20 C. P* = 20, Q* = 80 D. P* = 40, Q* = 140