Some economists believe that because the government ______________ discouraged workers as unemployed, the unemployment rate is biased ________________
a. counts; upward
b. counts; downward
c. does not count; upward
d. does not count; downward
Answer; D) does not count; downward
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If two goods are substitutes, the cross-price elasticity of demand must be
A) negative. B) positive. C) zero. D) infinite.
Consider a regression with two variables, in which X1i is the variable of interest and X2i is the control variable. Conditional mean independence requires
A) E(ui|X1i, X2i) = E(ui|X2i) B) E(ui|X1i, X2i) = E(ui|X1i) C) E(ui|X1i) = E(ui|X2i) D) E(ui) = E(ui|X2i)
Which of the following changes would probably not lead to an increase in aggregate expenditure?
a. an increase in aggregate wage income b. an increased mood of optimism about the nation's economic prospects c. an increase in the value of corporate stocks d. a decrease in the income tax rate e. an increase in the interest rate
Exchange rate interventions occur when a government:
a. buys and sells its own currency on forex markets. b. buys and sells other currencies on forex markets. c. increases its interest rate. d. buys and sells its own currency and other currencies on forex markets.