Which of the following would be classified as employed?
a. a full-time college student
b. a construction worker on layoff due to cold weather
c. a parent who works 50 to 60 hours per week caring for family members
d. a worker who is in the midst of a two-week vacation from his regular job
D
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In perfect competition, all the following situations arise except ________
A. firms produce an identical good or service B. each firm chooses the price at which to sell the good it produces C. firms can sell any quantity they choose to produce at the market price D. buyers know each seller's price
For the regression equation Q = 100 - 10X + 0.25X2, which of the following statements is true?
A) X2 is the more important variable because it is positive. B) When X decreases by one unit, Q decreases by 10 units. C) When X increases by 10 units, Q decreases by 1 unit. D) The change in Q associated with a one unit increase in X depends on the initial level of X.