Cost-benefit analysis is
A. a set of practical procedures for guiding public expenditure decisions.
B. used by the private sector to determine whether certain projects should be undertaken.
C. difficult when benefits and costs are hard to evaluate.
D. mindful of changes over time.
E. all of these answer options are correct.
E. all of these answer options are correct.
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In tit-for-tat, if your partner ________ in your first interaction, then you will ________ in your next interaction.
A. defects; defect B. defects; cooperate C. defects; refuse to play D. cooperates; defect
Which of the following is a legal entry barrier established by government?
a. Patents. b. Copyrights. c. Government franchises. d. All of the above.
Suppose Larry's Lariats produces lassos in a factory, and uses nine feet of rope to make each lasso. The rope is put into a machine that automatically cuts it to the right length, then seals the ends to prevent fraying. The rope is then hand tied, dipped, and wound before being placed in a packaging machine to prepare it for retail sale. Which of the following would be considered a fixed cost for this company?
A. Employee wages B. The cost of rope C. The packaging material D. None of these would be considered a fixed cost.
If a process is said to be integrated of order one, or I(1), _____.
A. it is stationary at level B. averages of such processes already satisfy the standard limit theorems C. the first difference of the process is weakly dependent D. it does not have a unit root