If R2ur = 0.6873, R2r = 0.5377, number of restrictions = 3, and n- k- 1 = 229, F statistic equals:
A. 21.2
B. 28.6
C. 36.5
D. 42.1
Answer: C
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In the economic way of thinking, a productive service is
A) a meritorious service. B) something of clear value to anybody in society. C) an activity that enables people to obtain something for which they are willing to pay. D) all of the above. E) none of the above.
Once tradable pollution permits have been allocated to firms,
a. the government controls the price of permits. b. firms that can reduce pollution only at high cost will be willing to pay the most for the pollution permits. c. the value of pollution-saving technology will be lower than the market value of a pollution permit. d. the Coase theorem is no longer applicable as a solution to reducing pollution.
For most products, purchases tend to fall with decreases in consumers' incomes. Such products are known as
A. average goods. B. inferior goods. C. direct goods. D. normal goods.
Collusion is
A) legal under U.S. antitrust laws if the intent is to increase competition. B) necessary for firms to raise money by borrowing from investors or from banks in order to fund research and development required to develop new products. C) an agreement among firms to charge the same price or otherwise not to compete. D) common among monopoly firms.