Economic freedom and economic prosperity are
A) positively correlated.
B) negatively correlated
C) not correlated.
D) inconsistent with human rights.
A
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The long-run equilibrium condition for firms that operate in perfect competition is
a. P = AVC = MR = MC b. P = ATC = MR = MC c. Q = AVC = MR = MC d. Q = ATC = MR = MC e. TR = ATC = MR = MC
The difference between zero accounting profit and zero economic profit is that
a. economists include opportunity cost in zero economic profit, while accountants do not include opportunity cost in zero accounting profit. b. economists do not include opportunity cost in zero economic profit, while accountants do include opportunity cost in zero accounting profit. c. economists include opportunity cost in zero accounting profit, while accountants do not include opportunity cost in zero economic profit. d. economists do not include opportunity cost in zero accounting profit, while accountants do include opportunity cost in zero economic profit.
Which of the following assumptions is required for obtaining unbiased fixed effect estimators?
A. The errors are heteroskedastic. B. The errors are serially correlated. C. The explanatory variables are strictly exogenous. D. The unobserved effect is correlated with the explanatory variables.
According to economist Jean-Pierre Dube, a 10 percent increase in the price of a twelve-pack of Mountain Dew will lead to a ______ percent increase in the sales of twelve-packs of Pepsi.
a. 10 b. 7.7 c. –5 d. –8.2