Barter can best be defined as:
a. the direct exchange of one good for money.
b. the direct exchange of money for a good.
c. the direct exchange of goods and services without the use of money.
d. the direct exchange of labor services for wages.
e. the payment of interest on a savings account.
c
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Imagine you regressed earnings of individuals on a constant, a binary variable ("Male") which takes on the value 1 for males and is 0 otherwise, and another binary variable ("Female") which takes on the value 1 for females and is 0 oth
Because females typically earn less than males, you would expect A) the coefficient for Male to have a positive sign, and for Female a negative sign. B) both coefficients to be the same distance from the constant, one above and the other below. C) none of the OLS estimators to exist because there is perfect multicollinearity. D) this to yield a difference in means statistic.
The economic justification for public subsidies to university research is based on
a. the value of this research to the university. b. the higher salaries graduate students earn as a result of working with professors involved in research. c. the external benefits of research and development to, in particular, high rates of economic growth. d. higher incomes earned by those who provide services to university researchers (equipment, supplies, etc.).