One of the primary advantages of using econometrics over typical results from economic theory, is that
A) it potentially provides you with quantitative answers for a policy problem rather than simply suggesting the direction (positive/negative) of the response.
B) teaching you how to use statistical packages
C) learning how to invert a 4 by 4 matrix.
D) all of the above.
Answer: A
Economics
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In applying the lower of cost or market rule, market may be represented by:
a) current replacement costs b) net realizable value c) net realizable value less a normal profit margin d) any of the above may be correct
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As long as the amount of food stamps an individual receives is less than they would have spent on food without the food stamps, the food stamps act like a straight income transfer
a. True b. False
Economics