Based on labor-market studies using regression analysis, once productivity-related characteristics are accounted for, the remaining wage gap between young and educated women and men is approximately
A) 2%.
B) 5%.
C) 15%.
D) 20%.
A
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The worth of __________ tend(s) to be undervalued in our society
a. Internal exchanges b. Abundance c. Scarcity and risk d. Tangible goods
Among the components of a 45-degree (or income) line are consumption and
a. investment b. inventories c. exports d. saving e. imports
Rebel Sole is a rapidly expanding shoe company. The following is the demand estimate for its popular shoes. The estimate was done using 40 observations.
Q = 10 -10 P + 4 A +0.42/+ 0.25Py (3) (1.8) (0.7) (0.1) (0.1) F = 93, s = 6, R2 = 93% Q is quantity sold (in thousands), P is shoe price, A is advertising expenditure (in thousands), the numbers in parentheses are standard errors. I is disposable income per capita (thousands of dollars), and Py is the price of related goods. a. Evaluate the model based on F, R². b. Test the significance of Py c. If P=$5, A = $30,000, I = 50,000, and Py = $6, calculate advertising elasticity. d. Given the information in c. above, calculate the 95% confidence interval for Q.
When the price of sausages is $2.00 per pound, consumers buy 50 pounds of fish. When the price of sausages rises to $3.00 per pound, 60 pounds of fish are purchased. The cross price elasticity of demand between sausages and fish is approximately equal to
A. +0.04. B. +2.20. C. +0.45. D. -0.45.