The linear regression equation, Y = a + bX, was estimated. The following computer printout was obtained: 
Given the above information, if X equals 20, what is the predicted value of Y?
A. -186.42
B. 186.42
C. -411.72
D. 165.69
Answer: C
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In the demand curve shown in the above graph we are closest to unit elasticity at point
A. point Q. B. point R. C. point S. D. point T.
Through product differentiation, firms attempt to increase the
A. demands for their products, while making its demand less elastic. B. supply of elasticities of competing products. C. price-elasticity of demand for their products. D. marginal costs of their competitors' production.
Many economists think that effective institutions are essential for economic growth. In this context, what are institutions?
A. government agencies like the Food and Drug Administration (FDA) or the Environmental Protection Agency (EPA) B. mechanisms that allow for the use of fiscal and monetary policy C. the laws, social norms, and conventions of a culture D. prisons, jails, and psychiatric hospitals that are used to keep certain people isolated from the rest of the population E. long-standing companies that consumers can depend on for reliable service and products
Newspaper accounts of the U.S. labor market often point out that many people are working more hours than their parents did. What might explain this phenomenon?
A) the substitution effect B) the endowment effect C) bounded rationality D) the income effect