Which of the following is not included in census income?
a. wages and salaries.
b. property income.
c. cash welfare benefits.
d. in-kind transfers.
d
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For years, your neighbor insisted she had no desire to own a computer. Recently, however, she purchased one and says she did so because all her relatives have computers and she wants to exchange e-mail with them. Your neighbor's behavior is an example of
A) a switching cost. B) the impact of negative market feedback. C) limited-pricing behavior. D) a network effect.
An example of an oligopoly is: a. the book industry
b. the music CD industry. c. the automobile industry. d. the market for soybeans.
Which of the following assumptions is needed for the plug-in solution to the omitted variables problem to provide consistent estimators?
A. The error term in the regression model exhibits heteroskedasticity. B. The error term in the regression model is uncorrelated with all the independent variables. C. The proxy variable is uncorrelated with the dependent variable. D. The proxy variable has zero conditional mean.
The growth in income inequality in the United States since the early 1980s has been driven primarily by the dramatic:
A. increase in real incomes for the top 20 percent of earners. B. increase in real incomes for the top 10 percent of earners. C. decrease in real incomes for the bottom 20 percent of earners. D. increase in real incomes for the top 1 percent of earners.