According to the IGM poll, most economists think that the benefits of ARRA exceeded the costs
a. True
b. False
Indicate whether the statement is true or false
True
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What are factors of production? Why are the factors of production said to have a derived demand?
What will be an ideal response?
In the summer 2012 the lobster catch in Maine was especially large, but instead of celebrating the fisherman were suffering from a lower total revenue
(Source: New York Times, July 28, 2012 ) We learn from the article that despite the larger quantity of lobster caught, the total revenue of the fisherman decreased. This fact means that the demand for lobster is A) unit elastic. B) elastic. C) inelastic. D) perfectly elastic.
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.
The marginal utility derived from viewing the next movie download is the
A) average utility per minute of viewing. B) additional utility from viewing the movie. C) average utility per hour of viewing. D) additional utility from viewing the first minute of the movie.