Marginal costs rise if marginal product falls
Indicate whether the statement is true or false
True
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According to the economic way of thinking, personal benefits and costs influence the actions of
a. consumers in the private sector but not voters in the public sector. b. producers in the private sector but not politicians in the public sector. c. taxpayers but not recipients of government-provided goods and services. d. consumers, producers, voters, and politicians in both the private and the public sectors.
Refer to the above figure. If real Gross Domestic Product (GDP) is $6 trillion, then unplanned business inventories will
A. be zero.
B. rise.
C. be equal to planned inventories.
D. fall.
A change in the unit of measurement of the dependent variable in a model does not lead to a change in:
A. the standard error of the regression. B. the sum of squared residuals of the regression. C. the goodness-of-fit of the regression. D. the confidence intervals of the regression.
Which of the following events would NOT cause India to shift away from exporting call center services to the United States?
A. The development of automated software that handles a large fraction of customer questions and sales orders B. An increase in the number of Chinese who speak English well C. An increase in the value of the dollar against the rupee D. An increase in the other employment opportunities available to English-speaking college graduates in India