In intra-industry trade, the level of worker productivity is determined by
a. how firms engage in specific learning about specialized products, including taking advantage of economies of scale.
b. how firms take advantage of climate or geography.
c. how firms take advantage of the general level of education or skill.
d. how firms take advantage of technological advances.
a. how firms engage in specific learning about specialized products, including taking advantage of economies of scale.
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The difference between the federal budget deficit and the national debt is that the:
a. deficit is a stock variable and the debt is a flow variable. b. deficit is a flow variable and the debt is a stock variable. c. debt includes interest payments and the deficit does not. d. deficit can be positive, but the debt can not e. debt can be negative, but the deficit cannot.
Suppose the variable x2 has been omitted from the following regression equation,
is the estimator obtained when 
is omitted from the equation. The bias in
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A. 
>0 and 
and 
are positively correlated
B. 
<0 and 
and 
are positively correlated
C. 
>0 and 
and 
are negatively correlated
D. 
= 0 and 
and 
are negatively correlated
Suppose that the marginal revenue product of the fourth acre of land is $180 and the rent paid on that land is $200 an acre. We can say that
A. not enough land is being rented. B. just enough land is being rented. C. too much land is being rented.
________ is an industry with a single firm in which the entry of new firms is blocked.
A. An oligopoly B. A monopoly C. Monopolistic competition D. Perfect competition