For the measure of fit in your regression model with a binary dependent variable, you can meaningfully use the
A) pseudo R2.
B) size of the regression coefficients.
C) standard error of the regression.
D) regression R2.
Answer: A) pseudo R2.
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Choose the correct statement.
A. The minimum wage results in decreased job search. B. An unregulated labor market cannot allocate the economy's scarce labor resources to the jobs in which they are valued more highly. C. The MSB from labor to workers is leisure foregone. D. In a labor market with an effective minimum wage, the MSB of labor is greater than its MSC.
An eclectic aggregate supply curve:
A. Is the supply-side counterpart to monetarist and Keynesian assumptions about the shape of aggregate demand. B. Combines elements of the monetarist and Keynesian assumptions about the shape of aggregate supply. C. Maintains a constant upward slope as the economy moves through the business cycle. D. Is horizontal at all levels of output.
If a union gains significant monopoly power in a competitive market, employment:
A. should decrease and wages should increase. B. should increase and wages should decrease. C. and wages should increase. D. and wages should decrease.
Which of the following is a characteristic of stock?
A) Stock represents ownership in a firm B) Stock represents a promise to repay a fixed amount of funds. C) The face value or principal plus interest is repaid at a specified period of time. D) The length of coupon payments is fixed by the stated maturity period.