Binary variables
A) are generally used to control for outliers in your sample.
B) can take on more than two values.
C) exclude certain individuals from your sample.
D) can take on only two values.
Answer: D
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Goods and services bought by the government account for about ________ percent of total production
A) 8 B) 2 C) 67 D) 17 E) 35
Refer to Figure 4-7 which shows the market for watermelons. Suppose the government imposes a price floor of Pw. How will the price floor affect the quantity supplied, quantity demanded, and quantity exchanged?
What will be an ideal response?
Many people tend to buy multiple cars from the same manufacturer because
A) doing so reduces the asymmetric information problem; consumers have better knowledge of quality. B) doing so reduces the asymmetric information problem; consumers have better knowledge of prices. C) doing so doesn't change the asymmetric information problem but consumers have more information. D) doing so increases the consumers brand loyalty.
How have the size and functions of government in the United States changed during the last century?