The price of a good will be ________ determined if the ________ of the good is perfectly inelastic.
A. supply; supply or demand
B. demand; demand
C. supply; supply
D. demand; supply
Answer: D
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When measuring GDP by the income approach, wage income includes i. health-care insurance paid for by the firm for its employees. ii. Social Security contributions made by the firm. iii. wages paid during a worker's vacation time
A) i, ii and iii B) i and ii only C) i only D) ii only E) ii and iii only
The U.S. banking system is considered to be a dual system because
A) banks offer both checking and savings accounts. B) it actually includes both banks and thrift institutions. C) it is regulated by both state and federal governments. D) it was established before the Civil War, requiring separate regulatory bodies for the North and South.
What are the key characteristics of a public good?
What will be an ideal response?
Which of the following is a drawback of including proxy variables in a regression model?
A. It leads to misspecification analysis. B. It reduces the error variance. C. It increases the error variance. D. It exacerbates multicollinearity.