As a researcher, which aspect of the results would be of greatest concern?
A) the negative value of the constant (i.e., -6,500)
B) the relatively low impact of the competitor's price
C) the fact that not all of the variables are statistically significant
D) the poor fit of the regression line
D
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Phoebe and Rachel quit running in Central Park and join a health club to run on treadmills. This decision
a. has no effect on GDP. b. increases GDP. c. decreases GDP. d. increases nominal but not real GDP.
The manufacturing unit of a local LED bulb producing company reports a daily output of 450 bulbs with 50 units of labor. When the 51st worker is hired, production increases to 475 bulbs, and when the 52nd worker is hired, production increases to 490 bulbs. This is an example of: a. a deadweight loss
b. decreasing returns to scale. c. diminishing marginal returns. d. a decrease in labor demand.