A principal feature of a command economy is that
there is a central planning board at the top, which transmits economic decisions down to the various producing and consuming units below
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As a consumer spends a larger share of his income on a particular good, the price elasticity of demand for that good:
A) increases. B) decreases. C) initially decreases then increases. D) remains the same.
A common approach that economists use to understand, explain and predict economic phenomena is to
A) form a theory or model. B) conduct experiments in a science lab. C) ask what people think. D) examine people's thought processes.
Which does an intention-to-treat parameter measure in a program evaluation study?
A. The effect of participation in the program. B. The effect of the program on those who were eligible but did not participate. C. The effect of being eligible to participate in the program. D. The effect on the probability of participation due to being eligible to participate.
? In 2005, the percentages of mortgages that were considered sub-prime:
a. increased dramatically.
b. increased minimally
c. decreased minimally.
d. decreased dramatically.