A trend is
A) a measure of closeness on a scatter diagram.
B) a general tendency for a variable to rise or fall.
C) the maximum value of a variable.
D) the minimum value of a variable.
E) the difference between the maximum value of a variable and the minimum value of the variable.
B
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The income approach to measuring GDP includes:
a. compensation for employees, net interest, rent, net profits, and indirect business taxes and depreciation. b. compensation for employees, net interest, rent, corporate profit, and transfer payments. c. compensation for employees, net interest, rent, and indirect business taxes. d. compensation for employees, net interest, rent, corporate profits, and capital depreciation. e. compensation for employees, rent, corporate profits, proprietors' income, and transfer payments.
The nominal tax rate is
A. Taxes paid divided by total economic income. B. Equal to the marginal tax rate. C. Taxes paid divided by taxable income. D. Lower than the effective tax rate.
A consultant predicts that there is a 25% chance of earning $500,000 and a 75% chance of earning $100,000. The expected profit is $200,000. The standard deviation is
What will be an ideal response?
Economists have used the ultimatum game and the dictator game in experiments designed to determine
A) whether consumers care about fairness when they make decisions. B) whether consumers believe it is fair for producers to raise the price of a product for which there is excess demand. C) whether consumers understand the difference between implicit costs and explicit costs. D) whether consumers understand the rule of equal marginal utility per dollar spent.