The principle that states that what matters to people is the real value or purchasing power of money is the
A) marginal principle. B) spillover principle.
C) real-nominal principle. D) principle of diminishing returns.
C
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_____ is embodied in the notion of a social welfare function
a. Progressivism b. Socialism c. Utilitarianism d. Social insurance
When firms have an incentive to exit a competitive market, their exit will
a. lower the market price. b. necessarily raise the costs for the firms that remain in the market. c. raise the profits of the firms that remain in the market. d. shift the demand for the product to the left.
In a two-dimensional graph showing the relationship between income and consumption in the economy, what is shown on the vertical axis and what is shown on the horizontal axis?
Please provide the best answer for the statement.
Assume a study indicates that attending an SAT preparation class improved average SAT scores by 200 points. If the null hypothesis is true and the p-value for the 200 point SAT score improvement is 0.015, then there is a ________ chance of improving your SAT score by 200 points.
A. 0.3% B. 1.5% C. 3% D. 15%