Which of the following is NOT an example of an opportunity cost?
A) By spending Thursday night studying for an economics exam, a student was unable to complete a homework assignment for calculus class.
B) Because David used all of his vacation time to paint his house, he was unable to visit the Caribbean last year.
C) Because Mary is now being paid a higher wage, she can afford to buy a new car even though she is moving into a bigger apartment.
D) By choosing to attend college, Jean was not able to continue working as an electrician; as a result, she gave up more than $85,000 in earnings while she was in college.
C
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In rate-of-return regulation, a monopoly is required to have zero
a. profit. b. rent. c. producer's surplus. d. deadweight loss.
Deb and Pete have volunteered to help their favorite charity mail out fundraiser information. The figure above shows their production possibilities frontiers for assembling packets and stuffing envelopes
What is Deb's opportunity cost of assembling 1 packet? A) 4 envelopes B) 4 packets C) 160 envelopes D) 1/4 of an envelope E) 40 envelopes
Which of the following statements is true?
A. A truncated regression is a special case of a random sample selection. B. Nonrandom sample selection can arise in cases of cross-sectional and time series data, but not in the case of panel data. C. The Tobit regression model is based on endogenous sample selection. D. The censored regression model is based on nonrandom sample selection.
As discussed in the Case in Point on the degree of crowding out of Canadian private investment as a result of government expenditures from 1961-2000, Professor Baotai Wang concluded that
A) all types of government spending—spending on health and education, on infrastructure and capital, on defense, on debt services, and on government and social services—lead to crowding out. B) government expenditures that increased human capital, such as spending on health and education, are more likely to lead to crowding out than other types of government expenditures. C) crowding out depends on the nature of spending done by the government. D) government expenditures, on infrastructure and capital are more likely to lead to crowding in because they expand a nation's capital stock