When firms add workers and get more efficient, they are benefiting from
A. diminishing returns.
B. diminishing marginal utility.
C. the law of large numbers.
D. the division of labor.
Answer: D
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Which of the following is included in gross domestic product for an economy in a given year?
A) the value of used goods sold in that year B) the value of final goods produced in that year C) the value of intermediate goods produced in that year D) All of the above would be included in gross domestic product for an economy in a given year.
Compared to a more standard experimental design which would assign observations to a control group or to a treatment group, a synthetic cohort analysis
A. uses a sophisticated algorithm to estimate data for observations in the control group. B. only has a treatment group. C. finds other populations that "mirror" the treatment group in many ways in order to argue that these other populations can serve as a valid control group. D. only has a control group. E. assigns observations to the control or treatment group based on certain demographics such as location or race.
The phrase "owners' equivalent rent of primary residence" means the cost of housing services for one year.
Answer the following statement true (T) or false (F)
Refer to Figure 19-7. If the Indian government pegs its currency to the dollar at a value below $.02/rupee, we would say the currency is
A) parity valued. B) overvalued. C) undervalued. D) equilibrium valued.