When economists say that money promotes ________, they mean that money encourages specialization and the division of labor

The major flaw of the linear probability model is that

A) the actuals can only be 0 and 1, but the predicted are almost always different from that. B) the regression R2 cannot be used as a measure of fit. C) people do not always make clear-cut decisions. D) the predicted values can lie above 1 and below 0.

In 2016, the city of Miketown collected $250,000 in taxes and spent $350,000. In 2016, the city of Miketown had a

A. budget deficit of $100,000. B. budget surplus of 57%. C. budget deficit of $200,000. D. budget surplus of $100,000.