Economic rent is a payment for a factor of production that elicits an increase in the quantity supplied
a. True
b. False
Indicate whether the statement is true or false
False
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The class of linear conditionally unbiased estimators consists of
A) all estimators of ?1 that are linear functions of Y1,…, Yn and that are unbiased, conditional on X1,…, Xn . B) OLS, WLS, and TSLS. C) those estimators that are asymptotically normally distributed. D) all estimators of ?1 that are linear functions of X1,…, Xn and that are unbiased, conditional on X1,…, Xn.
If the population is split up into quintiles by income, the bottom quintile would include:
A. the poorest half of the population. B. the poorest 60 percent of the population. C. the richest half of the population. D. the poorest 20 percent of the population.
Suppose there are 3 possible outcomes to a vote: A, B, and C. If voters prefer A to B, B to C, and C to A, which of the following concepts are violated?
a. Transitivity b. Arrow's impossibility theorem c. Median voter theorem d. None of the above concepts are violated.
A U.S.-owned automobile factory uses $50 million worth of materials produced in the U.S. and $10 million worth of material purchased from foreign countries to produce $100 million of automobiles. $70 million worth of these automobiles are purchased by
U.S. consumers, $25 million are sold in foreign countries, and $5 million are added to inventory. How much of this production is included in U.S. GDP? By how much do these transactions alone affect U.S. net exports?