The decision about whether to change prices frequently or infrequently is an application of the:
A. cost-benefit principle.
B. scarcity principle.
C. principle of comparative advantage.
D. principle of increasing opportunity cost.
Answer: A
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Refer to the below graphs. (Assume that the pre-migration labor force in Country A is 0d and that it is 0u in country B.) Domestic output in country B will, after the emigration of labor:
A. Increase by area qrs
B. Increase by area qtus
C. Decrease by area qrs
D. Decrease by area qtus
In practice, the most difficult aspect of IV estimation is
A) finding instruments that are both relevant and exogenous. B) that you have to use two stages in the estimation process. C) calculating the J-statistic. D) finding instruments that are exogenous. Relevant instruments are easy to find.
As savings grow in an economy, economic growth rises
a. True b. False Indicate whether the statement is true or false
Which decision cannot be made at the margin?
a. whether to spend the day on Saturday watching movies or going hiking b. whether to spend your two-week vacation at the beach or in town c. whether to order a pepperoni or a cheese pizza d. whether to move from Boston to Chicago