(Requires Appendix material) Which of the following statements is correct?
A) TSS = ESS + SSR
B) ESS = SSR + TSS
C) ESS > TSS
D) R2 = 1 - (ESS/TSS)
Answer: A
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Why would you expect the demand for diamond jewelry to fall faster than plastic, costume jewelry when all incomes fall?
What will be an ideal response?
Under what circumstances does inflation cause no harm to either lenders or borrowers?
a. When inflation equals 0. b. When inflation equals the historic mean. c. When inflation equals the inflation of the year before. d. When there is deflation. e. When the actual inflation rate equals the expected inflation rate.
What happens if we internalize a negative externality?
a) Internalizing a negative externality will cause an industry to increase the quantity it supplies to the market and increase the price of the good produced. b) Internalizing a negative externality will cause an industry to decrease the quantity it supplies to the market and increase the price of the good produced. c) Internalizing a negative externality will cause an industry to decrease the quantity it supplies to the market and decrease the price of the good produced. d) Internalizing a negative externality will cause an industry to increase the quantity it supplies to the market and decrease the price of the good produced.
When a rent ceiling below the equilibrium rent is put in place, the outcome is
A) efficient because marginal benefit equals marginal cost. B) inefficient because marginal benefit equals marginal cost. C) inefficient because marginal benefit is greater than marginal cost. D) inefficient because marginal benefit is less than marginal cost. E) efficient because marginal benefit is greater than marginal cost.