A situation in which output decreases while prices increase is often referred to as:
A. inflation.
B. negative economic growth.
C. a recession.
D. stagflation.
Answer: D
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The Fixed Effects regression model
A) has n different intercepts. B) the slope coefficients are allowed to differ across entities, but the intercept is "fixed" (remains unchanged). C) has "fixed" (repaired) the effect of heteroskedasticity. D) in a log-log model may include logs of the binary variables, which control for the fixed effects.
Which of the following might be an effect of advertising?
a. all of the following b. increased product differentiation c. increased total costs of production d. increased average total costs of production e. increased demand for the product
Suits Only, a dry cleaning firm that specializes in cleaning business suits, operates in a perfectly competitive market. Robin Smith, an exceptionally talented manager, has been hired to manage Suits Only. In the dry cleaning business, a manager typically makes a salary of $400 per week. Suits Only faces the long-run average and marginal costs shown in the figure below. In long-run competitive equilibrium, the market price for cleaning a business suit is $4.50.
Given the above, Robin Smith is probably going to negotiate a salary of ________ per week, ________ of which is economic rent.
A. $500, $500 B. $400, $0 C. $475, $75 D. $500, $100
The marginal benefit of pollution abatement is graphically illustrated by
A. a vertical curve. B. a downward sloping curve. C. a horizontal curve. D. an upward sloping curve.