The 80/20 ratio is found by dividing the
A. number of households making less than 80 percent of the poverty line by the number of households making more than 20 times the poverty line.
B. average income of those below the 80th percentile by the average income of those in the top 20 percent.
C. average income of the top 80 percent of income earners by the average income of the top 20 percent of income earners.
D. income at the 80th percentile by the income at the 20th percentile.
Answer: D
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The sample average of the OLS residuals is
A) some positive number since OLS uses squares. B) zero. C) unobservable since the population regression function is unknown. D) dependent on whether the explanatory variable is mostly positive or negative.
Under monopolistic competition there
A. is product standardization. B. is perfect price discrimination. C. are too many firms producing over-differentiated products. D. are many firms producing differentiated goods and services.
The resources that firms use in? production, including? land, buildings, and? equipment, are called
A. Factors B. Factor markets include all the resources firms use in their production C. Capital, land, buildings D. To produce out put
Refer to the table. For each of the 100 firms in this industry, marginal revenue and total revenue will be:
A. $4 and $400, respectively.
B. $3 and $30,000, respectively.
C. $4 and $20,000, respectively.
D. $3 and $18,000, respectively.