Which of the following are not consumer durable goods?
a. Automobiles
b. Washing machines.
c. Air conditioners.
d. Paperback books.
d
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Draw a graph illustrating the relationship between the demand curve of the perfectly competitive firm and the perfectly competitive industry. Label all curves and axes correctly.
What will be an ideal response?
Consider the following regression equation: y= 
0+ 1x1+ …+ kxk + u
In which of the following cases, the dependent variable is binary? A. y indicates the gross domestic product of a country B. y indicates whether an adult is a college dropout C. y indicates household consumption expenditure D. y indicates the number of children in a family
Temporary layoffs are common in the United States, especially among workers who are heavily invested with specific training. Why?
A. Workers without specific training are never hired in the first place. B. Specific training deteriorates quickly, so a laid-off worker with specific training is not valuable to any firm. C. The laid-off worker with specific training is more valuable to the firm that laid her off than she is to any other firm. Thus, it is in the worker's best interest to remain unemployed until recalled to work at her original firm. D. Unemployment benefits are tied to specific training. E. Workers with specific training know they do not need to work hard when employed.
Ahmed is working and is spending more than he is earning by using his savings to make up the difference. Which of the following statements is TRUE?
A. Ahmed is in equilibrium since he pays all of his bills. B. Ahmed is in disequilibrium. C. By using savings Ahmed has caused the balance of payments to go into a deficit situation. D. By using savings Ahmed is using special drawing rights.