Which of the following statements is true of an appropriate data set?
A. An appropriate data set should be collected from government registered websites.
B. An appropriate data set should have enough controls to do a reasonable ceteris paribus analysis.
C. An appropriate data set should not have time series units.
D. An appropriate data set should not be based on surveys.
Answer: B
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Supply-side theory suggests that
A) aggregate supply does not depend on labor productivity. B) increased government spending does not increase aggregate demand. C) lower tax rates may not reduce overall tax revenues. D) increased labor productivity may not increase real output.
When the monopolist decides to supply a given amount to the market, it will:
A. set the price equal to marginal cost. B. set the price higher than what demanders are willing to pay for that amount. C. only sell that amount if it charges what the demanders are willing to pay for that amount. D. set the price lower than the demand curve to create a perceived shortage.