Refer to the information provided in Figure 6.2 below to answer the question(s) that follow.
Figure 6.2Refer to Figure 6.2. Mr. Lingle's budget constraint is AC. His choice set is all points
A. along budget constraint AC.
B. along the vertical and horizontal axes.
C. to the right of budget constraint AC.
D. in the area bounded by OAC.
Answer: D
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Suppose a nation opens up to free trade and becomes an exporter of goods. Which of the following is then true?
A) The nation as a whole suffers losses. B) Sellers lose. C) Buyers lose. D) Buyers gain.
When there is a divergence between social costs and private costs in a market, _____
a. the market will always provide an efficient allocation of resources b. there will be too much or too little production and consumption in the market c. there will be an acute shortage of goods and services in the market d. there will be an excess supply of goods and services in the market e. all resources are being used in their highest-valued activity
What are the conditions for long-run equilibrium?
What will be an ideal response?
When collecting data to conduct research, if the sample used includes only observations which have remained in the sample over time, making that sample unrepresentative of the broader population, ________ occurs.
A. regression discontinuity B. difference-in-differences C. intention to treat D. survivor bias