A survey of earnings contains an unusually high fraction of individuals who state their weekly earnings in 100s, such as 300, 400, 500, etc. This is an example of
A) errors-in-variables bias.
B) sample selection bias.
C) simultaneous causality bias.
D) companies that typically bargain with workers in 100s of dollars.
Answer: A
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Suppose that a federal election is coming soon and the government has been running persistent large budget deficits. Constitutional economists would most likely urge ___________________ in order to eliminate future budget deficits
A) voters to vote for liberal candidates B) voters to vote for conservative candidates C) Congress to pass a law constraining them to spend no more than what they are receiving in tax revenues D) Congress to remove all constraints on spending and taxes.
What happens to the marginal cost curve when the marginal physical product of labor is rising?
A) It becomes upward sloping. B) It becomes vertical. C) It becomes downward sloping. D) It becomes horizontal.