An example of a randomized controlled experiment is when
A) households receive a tax rebate in one year but not the other.
B) one U.S. state increases minimum wages and an adjacent state does not, and employment differences are observed.
C) random variables are controlled for by holding constant other factors.
D) some 5th graders in a specific elementary school are allowed to use computers at school while others are not, and their end-of-year performance is compared holding constant other factors.
Answer: D
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Refer to the figure above. If the government of China wants to peg the exchange rate above E yuan per dollar:
A) it will have to buy dollars and sell yuan. B) it will have to buy both dollars and yuan. C) it will have to buy yuan and sell dollars. D) it will have to sell both dollars and yuan.
Consider the demand curves for soft drinks shown in the figure above. Suppose the economy is at point a. What of the following could result in a movement to point b?
A) an increase in the price of bottled water B) a decrease in the price of bottled water C) an increase in the opportunity cost of soft drinks D) a decrease in the relative price of a soft drink
Assume that college-educated labor and high school-educated labor are complements in production. That is, the two types of labor work together, so that an increase in the quantity of either type increases the productivity of the other type of labor
Is this consistent with the observed increase in the college wage premium?
It's logical, it's a rule of thumb, it's an economic guideline: As long as MR < MC, and the firm responds by decreasing the quantity it produces,
a. profit will equal zero b. profit will increase c. profit will decrease d. profit will remain unchanged e. the firm will minimize loss