The matching function captures the idea that
A) consumers have to be paid to work.
B) supply and demand for labor determine the market wage.
C) it is costly and time-consuming to get firms and workers together to produce output.
D) firms are profit-maximizing.
C
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Refer to Figure 3.1. If Marge and Homer both deny committing the crime, what is Marge's payout?
A) 1 year B) 2 years C) 7 years D) 15 years
Improvements in and greater stocks of land, labor, capital, and entrepreneurial activity will shift the production possibilities curve: a. outward, such that more goods and services can be produced
b. outward, such that the cost-of-living rises. c. inward, such that the marketplace experiences a decrease in price and output levels. d. inward, because more resources will be used up and not renewed.
The reserve demand schedule is drawn on a graph that has the quantity of reserves on the horizontal axis and
A. the price level is on the vertical axis. B. the federal funds rate is on the vertical axis. C. the price of bonds is on the vertical axis. D. income is on the vertical axis.
Which of the following statements is true of stepwise regression?
A. In a stepwise regression, the dependent variable is regressed on each independent variable individually with an attempt to understand the effect of each independent variable on the dependent variable. B. In a stepwise regression, the dependent variable is regressed on different combinations of the independent variable with an attempt to come up with the best model. C. In a stepwise regression, the dependent variable can take up binary values only while the explanatory variables can take up quantitative values. D. In a stepwise regression, the dependent variable can take up quantitative values while the explanatory variables can take up only binary values.