An estimator is unbiased if it produces
A. estimates of a parameter that are close to the true parameter.
B. a parameter from the sample that equals the true parameter.
C. estimates of a parameter that are on average equal to the true parameter.
D. estimates of a parameter that are statistically significant.
E. both b and c
Answer: C
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Using the data in the above table, when the firm increases its output from 4 to 9 units, the marginal cost of a unit is
A) $4.00 a unit. B) $5.00 a unit. C) $6.00 a unit. D) $7.00 a unit.
John has $4000 in savings to buy an engagement ring for his girlfriend even though he has no plans to propose in the near future. When his transmission needs to be replaced in his car, John charges the $2000 worth of auto repair. John's decision is an example of:
A. people recognizing that money is fungible. B. everyday expenses being easier to charge than big purchases. C. people making false distinctions about their money. D. over consumerism.
The sequence of events following a contractionary monetary policy would be higher interest rates followed by dollar
a. depreciation, higher exports, and lower imports. b. depreciation, lower exports, and higher imports. c. appreciation, lower exports, and higher imports. d. appreciation, higher exports, and lower imports.
Refer to the table above. What is the marginal product of the sixth worker?
A) 20 pairs of shoes B) 46.7 pairs of shoes C) 60 pairs of shoes D) 280 pairs of shoes