The dummy variable trap is an example of
A) imperfect multicollinearity
B) something that is of theoretical interest only
C) perfect multicollinearity
D) something that does not happen to university or college students
Answer: C
Economics
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In Pioneer Ville, the price elasticity of demand for bus rides is 0.5 . When the price of a bus ticket rises by 5 percent, _______
A. the demand for bus rides increases by 10 percent B. the quantity of bus rides demanded increases by 2.5 percent C. the demand for bus rides decreases by 2.5 percent D. the quantity of bus rides demanded decreases by 2.5 percent
Economics
Based on the quantity equation, if M = 100, V = 3, and Y = 150, then P =
a. 1. b. 1.5. c. 2. d. 4.5.
Economics