A survey of earnings contains an unusually high fraction of individuals who state their weekly earnings in 100s, such as 300, 400, 500, etc. This is an example of
A) errors-in-variables bias.
B) sample selection bias.
C) simultaneous causality bias.
D) companies that typically bargain with workers in 100s of dollars.
Answer: A
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In the figure above, at the allocatively efficient level of computer production the marginal cost of producing a computer is
A) 0 televisions per computer. B) between 0 and 3 televisions per computer. C) 3 televisions per computer. D) more than 3 televisions per computer.
The Sherman Antitrust Act:
A. no longer applies to business practices today. B. was passed in 1800. C. was actively used by President Roosevelt in the early 20th century. D. All of these statements are true.
Suppose a business firm dumps its used car batteries into a river.
A. The company's actions constitute an external cost. B. The company's actions constitute an external benefit. C. The company's actions would be an example of the market system efficiently allocating resources. D. The company's actions damage no one but itself.
The equation for determining real GDP for year X is:
a. b. x 100 c. - 100 d. x 100