Output per worker must be ________ output per person.
A. less than or equal to
B. no more than half the size of
C. equal to
D. greater than or equal to
Answer: D
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Compared to people in other nations, people in the United States pay
A. much higher taxes. B. somewhat higher taxes, on average. C. about the same amount taxes. D. lower taxes.
The price elasticity of demand can range between
A) zero and one. B) negative infinity and infinity. C) zero and infinity. D) negative one and one.
Imagine you regressed earnings of individuals on a constant, a binary variable ("Male") which takes on the value 1 for males and is 0 otherwise, and another binary variable ("Female") which takes on the value 1 for females and is 0 oth
Because females typically earn less than males, you would expect A) the coefficient for Male to have a positive sign, and for Female a negative sign. B) both coefficients to be the same distance from the constant, one above and the other below. C) none of the OLS estimators to exist because there is perfect multicollinearity. D) this to yield a difference in means statistic.
Which would not be considered as capital (or an economic resource) by an economist?
a. A crane used by a building contractor b. A share of corporate stock issued by General Motors c. An automobile used by General Electric d. A razor used by a barber