Randomized controlled trials:
A. choose people randomly to measure the impact of a particular intervention, saving the cost of evaluating all participants.
B. randomly assign people into control and treatment groups in order to focus on the impact of a particular intervention.
C. are not a useful tool in assessing how specific interventions may influence economic development.
D. control how much of a treatment is given to each participant in order to measure the ideal quantity.
Answer: B
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Use the following figure showing the domestic demand and supply curves for product B in a hypothetical economy to answer the next question.
After trade, at a world price of Pw, producer surplus equals area(s)
A. E + H + J. B. B + C. C. D. D. B + C + D.
This figure displays the choices and payoffs (company profits) of two music shops-MiiTunes and The Rock Shop. MiiTunes is an established business in the area deciding whether to charge its usual high prices or to charge very low prices, in the hopes that a new business will not be able to make a profit at such low prices. The Rock Shop is trying to decide whether or not it should enter the market and compete with MiiTunes.The game between music stores in the figure shows us that:
A. neither store has a dominant strategy, and so the outcome cannot be predicted. B. only The Rock Shop has a dominant strategy, and so the outcome cannot be predicted. C. only MiiTunes has a dominant strategy, and so the outcome cannot be predicted. D. None of these statements is true.
In general, high unemployment is associated with
a) High levels of labour market co-ordination b) Low levels of labour market co-ordination c) Both high and low levels of labour market co-ordination d) Neither high nor low levels of labour market coordination e) Other factors and is unrelated to labour market co-ordination
When marginal revenue is negative for a linear (inverse) demand function, increases in output will cause total revenues to:
A. remain unchanged. B. decrease. C. increase. D. There is not sufficient information to answer the question.