In a self-selection problem, the explanatory variables can be:?
A. ?endogenous.
B. ?exogenous.
C. ?independent.
D. ?random.
Answer: A
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The European Union antitrust law focuses on which of the following?
A) furthering the social interest B) consumer welfare C) the means to monopolize a market D) ethics
Straight Cut beauty salon merges with Clean-Cut beauty salon. This is an example of
A) conglomerate merger. B) concentration ratio. C) vertical merger. D) horizontal merger.
The idea that an action should be undertaken if and only if the benefits exceed the costs is known as the concept of
a. economic efficiency. b. public welfare maximization. c. marginal comparative advantage. d. monetary construction of values.
The amount of compensation associated with the income effect of a price change is called:
A. a compensation variation. B. an income effect. C. consumer surplus. D. a subsidy.