The following tools from multiple regression analysis carry over in a meaningful manner to the linear probability model, with the exception of the
A) F-statistic.
B) significance test using the t-statistic.
C) 95% confidence interval using ± 1.96 times the standard error.
D) regression R2.
Answer: D) regression R2.
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The belief that the ethically proper thing to do in any situation is the thing that maximizes society's overall happiness and minimizes society's overall suffering is called
A) utilitarianism. B) diminishing marginal utility. C) the benefits-received principle. D) transcendentalism.
What are the effects of an increase in labor productivity on potential GDP, the quantity of labor, the real wage rate, and potential GDP per hour of labor?
What will be an ideal response?
The trade-offs facing workers include all of the following EXCEPT:
A) decision to work or remain outside the workforce. B) decision to work or seek additional education. C) decision to work for a large corporation or a small firm. D) decision to allocate their time between work and leisure. E) All of the above are trade-offs facing workers.
Which of the following are included in GDP?
a. Traffic congestion b. Crime c. Pollution d. Underground economic activity e. None of the above