Refer to the graph below. At equilibrium, the total revenues received by sellers would be represented by the area:
The equilibrium point in the market is where S and D curve intersect.
A. b
B. b + c
C. a + b
D. b + c + d
B. b + c
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The notation for panel data is (Xit, Yit), i = 1, ..., n and t = 1, ..., T because
A) we take into account that the entities included in the panel change over time and are replaced by others. B) the X's represent the observed effects and the Y the omitted fixed effects. C) there are n entities and T time periods. D) n has to be larger than T for the OLS estimator to exist.
Which of the following is most likely to be private property?
A) bees B) house flies C) farm raised chickens D) winds
If variable X rises as a result of variable Y falling, then X and Y have an inverse relationship
Indicate whether the statement is true or false
Which of the following is true of a natural experiment?
A. A natural experiment occurs when some endogenous event changes the environment in which individuals, families, firms, or cities operate. B. The control group in a natural experiment is randomly chosen. C. The treatment group in a natural experiment is randomly chosen. D. Control and treatment groups in a natural experiment arise due to an exogenous event.