The goodness of the fit of a line is measured by the
A) R2 statistic.
B) t-statistic.
C) unbiased coefficient.
D) standard error.
A
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Barter system is less desirable than using money for exchange because: a. it is a more inefficient and a time-consuming process
b. gold and silver are risky and inconvenient to transport. c. it tends to promote inflation. d. gold and silver are relatively scarcer than other commodities.
The argument that money should be given instead of in-kind help to welfare recipients is based on the idea that
A. welfare recipients cannot be trusted to use the in-kind help properly. B. in-kind help is not wanted. C. money allows more options and maximizes individual freedom. D. in-kind assistance does not go through the market system.
Suppose the annual growth rate of GDP in Belize is 3.5 percent. In 20 years, GDP in Belize will double
A) 1 time. B) 1.5 times. C) 3.5 times. D) 7 times.
If Claire's reservation price on a sweater is $37, which of the following prices would she have to observe in the market in order to buy a sweater?
A. $37.01 B. $38.00 C. $37.00 D. Claire would not buy a sweater at any of these prices.