The years after 1960 witnessed some social and economic changes of extraordinary magnitude, including all of the following except
(a) The core of U.S. growth shifted away from its historic base in heavy industry.
(b) A huge influx of women into the labor force occurred.
(c) Legislation provided for greater safety on the job and cleaner air and water.
(d) The Cold War ended in the early 1970s, following the end of the Vietnam War, and defense spending declined significantly from the Cold War years of the 1950s.
(d)
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Second-degree price discrimination generally takes the form of
a. special prices for students and seniors. b. membership clubs. c. quantity discounts. d. "extras" like free delivery and free customer service.
Firms should use a resource up to a point where MRP = P.
Answer the following statement true (T) or false (F)
By including another variable in the regression, you will
A) decrease the regression R2 if that variable is important. B) eliminate the possibility of omitted variable bias from excluding that variable. C) look at the t-statistic of the coefficient of that variable and include the variable only if the coefficient is statistically significant at the 1% level. D) decrease the variance of the estimator of the coefficients of interest.
Market failure can result from market outcomes that:
a. result in too few resources devoted to a good. b. result in too many resources devoted to a good. c. may justify government intervention. d. all of these.