What are menu costs?
A) the full list of a firm's costs of production
B) the costs to a firm of changing prices
C) the cost to a household of borrowing money when there is deflation
D) the opportunity cost of dining in a restaurant instead of at home
Answer: B
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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
On average throughout the United States,
a. almost all individuals leaving welfare had jobs b. day-care shortages arose as individuals left welfare for work c. only about half the individuals leaving welfare had jobs d. former welfare recipients who are now working find that they no longer qualify for food stamps, child care, or Medicaid e. welfare rolls remained stable during the late 1990s and early twenty-first century.