Find the degrees of freedom in a regression model that has 10 observations and 7 independent variables.
A. 17
B. 2
C. 3
D. 4
Answer: B
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In every economic system, scarcity imposes limitations on
a. households, business firms, governments, and the nation as a whole b. households and business firms, but not the governments c. local and state governments, but not the federal government d. households and governments, but not business firms e. business firms, governments, and the nation as a whole
The goal of contractionary monetary policy is to:
A. increase interest rates to slow down the economy. B. increase interest rates to stimulate the economy. C. reduce interest rates to slow down the economy. D. reduce interest rates to stimulate the economy.
Refer to Figure 12-7. If the market price is P2 the firm
A) will make a profit and produce a quantity of Q2. B) will break even and produce a quantity of Q2. C) will make a profit and produce a quantity of Q1. D) will make a profit and produce a quantity of Q3.
Markets tend to produce too little of an excludable public good because
A) transaction costs are high. B) of the lack of rivalry. C) these goods are depletable. D) All of the above.