In a regression equation, the ________ captures the effects of factors that might influence the dependent variable but aren't used as explanatory variables.
A. intercept
B. R-square
C. slope parameter
D. random error term
Answer: D
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In the above table, if the marginal factor cost is $20, how many workers would be hired?
A) 3 B) 4 C) 5 D) 6
Patents are currently granted for a period of 20 years in the United States. Do you think that time period is too long or too short? Explain your reasoning
If Luis makes $50,000 per year as a computer programmer and pays $6,000 in taxes while Hector makes $50,000 per year as a roofing contractor and pays $7,000 in taxes, this is an example of
A. A flat tax. B. Horizontal inequity. C. A regressive tax system. D. Vertical inequity.
The market wage could be higher than the equilibrium wage if a worker
a. is a superstar. b. belongs to a labor union. c. has more human capital. d. All of the above are correct.