In 2002 - 2003, some McDonalds' franchise owners reported that profits were declining from selling the discounted items from the Dollar Menu. This suggests that:
A) those items are price elastic.
B) those items are price inelastic.
C) those items are price unitary elastic.
D) none of the above.
B
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A direct or positive relationship between price and quantity supplied is
A) the market clearing price. B) a change in demand. C) a supply curve. D) a demand curve.
Which of the following is a method to correct for sample selection bias for the problem of incidental truncation?
A. Vector error correction method B. First differencing method C. Heckman's method D. Johansen method
Political candidates running for the same office tend to voice
A) the same views on how things should be accomplished so that one candidate does not gain an advantage over the other. B) the same views on how things should be accomplished, simply because there usually is no difference between their views. C) quite different views on how things should be accomplished so that voters will see that one approach is better than another. D) the same views on what things should be accomplished, but not speak specifically on how things should be accomplished.
According to the text, which of the following is a determinant of macroeconomic performance?
A. Prices B. Policy levers C. The unemployment rate D. The international value of the dollar