Which of the following would cause GDP to overstate the growth in economic well-being over the past 50 years?
A. Increase in leisure time
B. Increase in the employment of married women
C. Decrease in the employment of maids and housekeepers
D. All of the choices are true
B. Increase in the employment of married women
Economics
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In the probit model Pr(Y = 1 = ?(?0 + ?1X), ?
A) is not defined for ?(0). B) is the standard normal cumulative distribution function. C) is set to 1.96. D) can be computed from the standard normal density function.
Economics
If the price of a good falls, the marginal utility per dollar spent on that good:
a. also falls. b. stays the same. c. rises. d. will rise or fall, depending on the consumer. e. remains unchanged, provided the consumer buys no more of the good.
Economics