Selection bias can result from data samples
A. from people who make different choices.
B. that compare groups engaged in different activities.
C. that are not random.
D. all of the above.
Answer: D
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The principle of comparative advantage
A. applies only when the gold standard is in effect. B. is the basic reason that the United States has been running trade deficits. C. states that it is advantageous to export more than you import. D. states that total output is greatest when each product is made by the country that has the lowest opportunity cost.
Currently about what percentage of the civilian labor force is unionized in the United States?
A) 6 percent B) 12 percent C) 30 percent D) 70 percent
A situation in which two people each want some good or service that the other person is able to provide is called a double coincidence of wants
a. True b. False Indicate whether the statement is true or false
What could be a potential explanation for a firm selling virtually identical products under different brands?
A) Consumers are well informed about the quality of the products. B) Consumers believe that the products' quality is similar and thus firms are able to price discriminate. C) Consumers always favor private-label brands. D) Consumers believe that the products' quality differs and thus firms are able to price discriminate.