Which of the following statements is true?
A) Randomization allows for classification of participants according to their choice.
B) The subjects in the treatment group and the control group of an experiment are treated identically, except along a single dimension.
C) Randomization is not used in medical experiments.
D) The subjects in the treatment group and the control group of an experiment are identical in all respects and they are treated identically.
B
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An increase in the price level causes
A) the money demand curve to shift to the left. B) a movement up along the money demand curve. C) a movement down along the money demand curve. D) the money demand curve to shift to the right.
Outcome-oriented notions of equity:
A. focus on the procedures used to arrive at an allocation of resources rather than on the allocation itself. B. focus on whether the process used to allocate resources yields fair results. C. include process-oriented notions of equity. D. focus on what people could choose rather than what they actually choose.
Which of the following is an essential component of the ladder of opportunity?
a. Effective education system b. Safety net policies and programs c. Consistent redistribution efforts d. High social rates of return
Tommy spends most of his monthly budget on $3 video game rentals or $6 packets of baseball cards. The opportunity cost to Tommy of an extra packet of baseball cards is
A. one video game rental. B. two video game rentals. C. the cost of the baseball cards. D. he does not incur an opportunity cost.