Binary Variables Can Only Take on the Values of 1

question 15

True/False

Binary variables can only take on the values of 1 or 2.

---

Definitions:

National Security

Measures and policies implemented by a nation to protect against threats to its sovereignty, safety, and economic well-being.

Silicon Chips

Small pieces of semiconductor material, typically silicon, used in the manufacturing of electronic circuits and devices.

Quota Rent

The difference between the demand price and the supply price at the quota limit; this difference, the earnings that accrue to the license-holder, is equal to the market price of the license when the license is traded.

Domestic Demand

The total demand for goods and services within a country, including both consumer and governmental purchases.