Referring to Figure 1.8, if a point is unattainable, it is in 
A. AREA #1 but not on the curve.
B. AREA #1 or is on the curve.
C. AREA #2 or is on the curve.
D. AREA #2 but not on the curve.
Answer: D
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In time series data, it is useful to think of a randomized controlled experiment
A) consisting of the same subject being given different treatments at different points in time B) consisting of different subjects being given the same treatment at the same point in time C) as being non-existent (this is a time series after all, and there are no real "parallel universes" D) consisting of the at least two subjects being given different treatments at the same point in time
The net loss of total surplus that results from the misallocation of resources is referred to as ______.
a. producer surplus b. consumer surplus c. subsidy gain d. deadweight loss
Assume the CPI increases from 110 to 121, and Manny's nominal income increases from $100,000 to $120,000 over the same period. Manny's real income has
A. Decreased by approximately 8 percent. B. Increased by approximately 12 percent. C. Remained the same. D. Increased by approximately 9 percent.
Refer to the information provided in Figure 7.4 below to answer the question(s) that follow. 
Figure 7.4Refer to Figure 7.4. The average product of four workers is
A. 2. B. 12.5. C. 20. D. 34.