Which of the following is NOT an example of an externality?
A. The neighbor's wind chimes interfere with your sleep.
B. A firm lays off 100 workers.
C. Cancer-causing chemicals are dumped into the drinking water supply of a city.
D. A cookie company emits a wonderful aroma in the air that makes people smile.
Answer: B
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Assume that data are available on other characteristics of the subjects that are relevant to determining the experimental outcome. Then including these determinants explicitly results in
A) the limited dependent variable model. B) the differences in means test. C) the multiple regression model. D) large scale equilibrium effects.
If V in the equation of exchange is constant, an increase in M will necessarily increase
A. P. B. Q. C. Both P and Q. D. P times Q.
An indifference curve shows the combinations of two goods that yield the same level of utility.
Answer the following statement true (T) or false (F)
Which factor of production includes crude oil deposits?
A) physical capital B) human capital C) land D) entrepreneurship