Regression analysis splits people into groups, with each group containing identical people who
A) have different qualifications.
B) do different work.
C) are all of the same gender.
D) None of the above are correct.
D
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The price elasticity of demand for gasoline is 0.40. If the price of gasoline rises by 20 percent, there will be
A) a decrease of more than 20 percent in the quantity of gasoline demanded. B) an increase in the total revenue received from the sale of gasoline. C) a loss of total revenue for gasoline producers, because at a higher price the quantity of gasoline demanded decreases. D) no change in the quantity of gasoline sold because people need gasoline.
The smaller the typical depositor at a financial institution, the __________ likely that some of the institution's deposits are federally insured and thus the __________ heavily that institution tends to be regulated
A) less; less B) less; more C) more; less D) more; more
The permanent-income hypothesis can reconcile the cross-section and time-series consumption studies by incorporating the reasonable assumption that at any one time many people are poor because they have ________ transitory income, causing them to
have an unusually ________ saving ratio. A) positive, high B) positive, low C) negative, high D) negative, low
Domestic producers of a good become worse off, and domestic consumers of a good become better off, when a country begins allowing international trade in that good and
a. the country becomes an importer of the good as a result. b. the world price exceeds the domestic price of the good that prevailed before international trade was allowed. c. the country in question has a comparative advantage, relative to other countries, in producing the good. d. total surplus does not change as a result.