Goods are distributed among people by means of
A. a central authority.
B. prices.
C. markets.
D. All of these are correct.
Answer: D
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An economy can produce either of these two combinations of goods X and Y: 1,000X and 0Y or 400Y and 0X. Furthermore, the opportunity cost between the two goods is always constant. Which of the following combinations of the two goods, X and Y, is it possible for the economy to produce?
A) 700 units of X and 280 units of Y B) 600 units of X and 250 units of Y C) 400 units of X and 150 units of Y D) 100 units of X and 600 units of Y E) 300 units of X and 280 units of Y
The method of least squares
A. minimizes the distance between the population regression line and the sample regression line. B. can be used to estimate the slope parameters of a linear equation. C. can be used to estimate the explanatory variables in a linear regression equation. D. all of the above