Selection bias can result from data samples
A. from people who make different choices.
B. that compare groups engaged in different activities.
C. that are not random.
D. all of the above.
Answer: D
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We can derive the market demand curve for gold earrings
A) only if the tastes of all gold earring consumers are similar. B) by adding the prices each gold earring consumer is willing to pay for each quantity. C) by adding horizontally the individual demand curves of each gold earring consumer. D) by adding vertically the quantity demanded of each gold earring consumed at each price.
The alternate-section provision was designed to:
a. allow the government to share in increased land values resulting from railroad building. b. encourage private businesses to locate along railroad routes. c. discourage farmers from cultivating crops near railroad routes. d. make railroad stations more accessible to families.
Studies indicate that the price elasticity of demand for beer is about 0.9 . A government policy aimed at reducing beer consumption changed the price of a case of beer from $10 to $20 . According to the midpoint method, the government policy should have reduced beer consumption by
a. 30%. b. 40%. c. 60%. d. 74%.
Refer to the data. If the price of a bar of gold is $30,000 this year, how many bars (in thousands) should OZ extract and sell?
The table below shows the quantity of gold bars (Q b ) in thousands, the extraction cost for each thousand bars (in millions of dollars), and the user cost of each thousand bars (in millions of dollars) facing the OZ Mining Company this year.
A. 2.
B. 3.
C. 4.
D. 5.