"Shoe-leather costs" refer to
A) a cobbler's payment for leather.
B) "rubber costs" on today's shoes.
C) the inconvenience imposed by higher interest rates.
D) financial deregulation of retail business firms.
C
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A firm hires labor in a perfectly competitive labor market. If the wage rate is $44, the firm should hire
a. 44 workers b. all units of labor whose marginal product is 44 c. all units of labor whose marginal revenue product is $44 d. all units of labor whose marginal revenue product is greater than or equal to $44 e. all units of labor whose marginal revenue product is less than or equal to $44
Which of the following is assumed in time series regression?
A. There is no perfect collinearity between the explanatory variables. B. The explanatory variables are contemporaneously endogenous. C. The error terms are contemporaneously heteroskedastic. D. The explanatory variables cannot have temporal ordering.