?A common form of sample selection that does not observe the dependent variable because of the outcome of another variable is called _____.
A. ?nonrandom sample selection
B. ?exogenous sample selection
C. ?incidental truncation
D. ?endogenous sample selection
Answer: C
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The difference between the market price of a new car used by a firm and the market price of the same car one year later is known as
A) economic depreciation. B) physical depreciation. C) economic deterioration. D) physical deterioration.
Relative to a perfectly competitive market with the same cost and demand, a single-price monopolist produces ________ output and has a ________ price
A) more; higher B) less; lower C) more; lower D) less; higher
If a business makes the determination that an investment makes sense at the current interest rate, but before they can act, the interest rates fall
A. they will go ahead with the investment because interest rates have nothing to do with whether an investment makes sense. B. it will only make the situation better, so they will clearly make the investment. C. it will cause them to not make the investment regardless of the decrease. D. they will have to recalculate whether it still makes sense.
The function of an entrepreneur is: (check all that apply)
a. to maximize the welfare of society. b. to avoid risks and prevent the commercialization of new products and ideas. c. to make strategic business decisions. d. to combine the resources of land, labor, and capital to produce a g