A recession is a slowdown in the rate of economic growth that
A) causes total income to fall even though total output has not declined.
B) is unintended and therefore disappoints people's expectations.
C) lowers the nominal level of gross domestic product.
D) persists longer than one year.
E) results in fewer people being employed.
B
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The prisoner's dilemma can be summarized in:
A. a strategy matrix. B. a strategy tree. C. a decision matrix. D. a flowchart.
One way to overcome the problem of adverse selection in labor markets is to
a. use signaling and screening b. advertise job openings widely c. contract out the hiring function d. pay above average wages e. pay below average wages
A small economy produces only pizzas and jeans. If an economy is operating inside its production possibility frontier, which of the following statements is true?
A. it will be possible to produce more pizzas without decreasing the production of jeans. B. the economy will be operating at a point on its production possibilities curve. C. the economy will be operating at a point outside its production possibilities curve. D. it will not be possible to produce more jeans or pizzas.
SUMMARY OUTPUTRegression StatisticsMultiple R0.971R-SquareAAdjusted R-SquareBStandard Error30.462Observations51ANOVA dfSSMSFSignificance FRegressionC747851.57373925.79402.989.89E-31Residual48D927.91 Total50792391.11 CoefficientsStandard Errort StatP-ValueLower 95%Upper 95%InterceptE62.1326.791.60E-301539.661789.51Price of Roses-6.68F-1.411.64E-01-16.162.81Disposable Income (M)9.730.34G1.23E-319.0410.42From the regression output, the predicted regression line is:
A. QRd = 2.32 ? 6.68PR + 9.73M. B. QRd = 1664.46 ? 6.68PR + 9.73M. C. PR = 1664.46 ? 6.68QR + 9.73M. D. There is not sufficient information to answer the question.