Economists sometimes refer to the resource category land as natural resources
Indicate whether the statement is true or false
True
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In neoclassical growth theory, technological progress is the key to continuous growth in labor productivity
Indicate whether the statement is true or false
McDonald's and its major competitors compete based:
A) only on the price. B) only on the basis of product characteristics. C) on both the price and product characteristics. D) none of the above because the fast-food industry is perfectly competitive.
Between 1860 and 1914, the concentration of industrial power did increase. What did members of the general public perceive to be the result of this heavy concentration?
(a) Expanded output (b) Lower prices (c) A transfer of income away from consumers toward big businesses (d) All of the above
The intercept in the multiple regression model
A) should be excluded if one explanatory variable has negative values. B) determines the height of the regression line. C) should be excluded because the population regression function does not go through the origin. D) is statistically significant if it is larger than 1.96.