The United States suffers more from strikes than Japan but fewer strikes than Canada
a. True
b. False
Indicate whether the statement is true or false
True
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Average physical product measures the increase in total output that results from a one-unit increase in an input.
Answer the following statement true (T) or false (F)
Which of the following could be the price elasticity of demand for a good for which an increase in price would decrease revenue?
a. 0.6 b. 0.9 c. 1 d. 2.6
Centrally planned economies have historically been more damaging to the environment than capitalist ones.
Answer the following statement true (T) or false (F)
An economist wants to study the effect of income on savings. He collected data on 120 identical twins. Which of the following methods of estimation is the most suitable method, if income is correlated with the unobserved family effect?
A. Random effects estimation B. Fixed effects estimation C. Ordinary least squares estimation D. Weighted Least squares estimation