In the simple linear regression model, the regression slope
A) indicates by how many percent Y increases, given a one percent increase in X.
B) when multiplied with the explanatory variable will give you the predicted Y.
C) indicates by how many units Y increases, given a one unit increase in X.
D) represents the elasticity of Y on X.
Answer: C
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Suppose an economy has the following production function: Y = A × K1/4 × H3/4. Which of the following is true of this economy?
A) Production in this economy exhibits increasing returns to scale. B) Production in this economy exhibits decreasing returns to scale C) Production in this economy exhibits constant returns to scale. D) Production in this economy decreases when the price level increase.
If an adult plays tic-tac-toe with another adult typically the result is that neither player wins. However, when adults play small children they are usually successful in beating them
How is it that there could be Nash equilibrium in the first case and not the second?