Which of the following is not a property of a typical indifference curve?
a. downward sloping
b. bowed away from the origin
c. does not intersect another indifference curve
d. a higher one is preferred to a lower one
b
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Who is an unemployed worker? If the number of employed workers in a country, where the size of the labor force is 4 million, is 2.75 million, what is the number of unemployed workers in the country?
What will be an ideal response?
Which of following is a key assumption of a perfectly competitive market?
A) Firms can influence market price. B) Commodities have few sellers. C) It is difficult for new sellers to enter the market. D) Each seller has a very small share of the market. E) none of the above
Using the textbook example of 420 California school districts and the regression of testscores on the student-teacher ratio, you find that the standard error on the slope coefficient is 0.51 when using the heteroskedasticity robust formula, while it is 0.48 when employing the homoskedasticity only formula. When calculating the t-statstic, the recommended procedure is to
A) use the homoskedasticity only formula because the t-statistic becomes larger B) first test for homoskedasticity of the errors and then make a decision C) use the heteroskedasticity robust formula D) make a decision depending on how much different the estimate of the slope is under the two procedures
The only way that the family can consume more and enjoy a higher standard of living is to:
A. increase the amount each person produces. B. decrease the amount each person produces. C. increase how many people are in the family. D. increase both how many people are in the family, and the amount each one produces.