In early 2010 there were __________ Americans working than there were 10 years earlier.
A. more
B. fewer
C. the same number of
B. fewer
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If the price of a pizza were to increase to $50, many people would give up eating pizza while others would continue to eat it. This would indicate
A) those who are buying pizza value it at least $50 per pizza. B) those who are not buying pizza value it more than $50 per pizza. C) only those who are extremely wealthy are buying pizza. D) the price of pizza needs to be regulated by the federal government.
The more elastic the demand curve, the ____ will be the effect of a tax on the quantity exchanged and the ____ will be the welfare cost. a. greater; greater
b. greater; smaller. c. smaller; greater. d. smaller; smaller.
Which of the following statements is true of confidence intervals?
A. Confidence intervals in a CLM are also referred to as point estimates. B. Confidence intervals in a CLM provide a range of likely values for the population parameter. C. Confidence intervals in a CLM do not depend on the degrees of freedom of a distribution. D. Confidence intervals in a CLM can be truly estimated when heteroskedasticity is present.
Economics is a social science that studies how individuals, institutions, and society may:
A. Expand the amount of resources available to them B. Attain a minimum level of production C. Best use resources to maximize satisfaction of economic wants D. Reduce the amount of goods and services they need