The closer the R2 of a regression is to ________, the ________ accurate and ________ valuable the forecast.
A) 0; less; more
B) 0; more; more
C) 1; less; less
D) 1; more; more
D) 1; more; more
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When technology advances, supply
A) increases, which is represented by a leftward shift in the supply curve. B) increases, which is represented by a rightward shift in the supply curve. C) decreases, which is represented by a rightward shift in the supply curve. D) decreases, which is represented by a leftward shift in the supply curve. E) remains the same; only quantity supplied changes.
Which of the following statements best describes the role of competitive firms within an economy?
a. Smaller economies often have fewer competitive firms making goods within their economy, and thus firms have less pressure from other firms to provide the goods and prices that consumers want. b. Smaller economies often have fewer competitive firms making goods within their economy, and thus firms have more pressure from other firms to provide the goods and prices that consumers want. c. Larger economies often have fewer competitive firms making goods within their economy, and thus firms have less pressure from other firms to provide the goods and prices that consumers want. d. Larger economies often have fewer competitive firms making goods within their economy, and thus firms have more pressure from other firms to provide the goods and prices that consumers want.
If a country's saving rate increases, then in the long run
a. productivity is higher but real GDP per person is not higher. b. real GDP per person is higher but productivity is not higher. c. productivity and real GDP per person are both higher. d. neither productivity nor real GDP per person is higher.
In economics, the meaning of demand refers to
A) how badly someone wants a good. B) the quantities of a good that people will buy at various prices. C) the quantities of a good that people will sell at various prices. D) the total satisfaction that consuming a good provides people at different prices.