Use the following table to answer the next question.YearAltaZornAltaZorn?(Real GDP)(Real GDP)(Population)(Population)1$2,000$150,00020050022,100152,00020250532,200154,000210508Per capita GDP was about
A. $303 in year 3 in Zorn.
B. $5 in year 2 in Alta.
C. $105 in year 3 in Alta.
D. $200 in year 1 in Zorn.
Answer: A
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In the distributed lag model, the coefficient on the contemporaneous value of the regressor is called the
A) dynamic effect. B) cumulative multiplier. C) autoregressive error. D) impact effect.
A shortage will occur if:
A. the quantity being supplied at a given price is less than the quantity demanded at that price. B. the quantity being supplied at a given price exceeds the quantity demanded at that price. C. there are not enough buyers in the market. D. there are only inexperienced firms in the market.
The management of a rental building faces a rent control situation, where it cannot charge more than $400 a month in rent on the apartment. The management knows that the apartments are high in demand and renters would be willing to be $1000 per month for them. The management decides to offer the controlled rent, rents furniture to its tenants, but successfully bars delivery from competing
furniture stores. This is an example of a. Tying b. Bundling c. Exclusion d. Fraud
If the ________ effect is greater than the ___________ effect, a tax cut will increase revenues.
A. price; quantity B. quantity; income C. income; price D. quantity; price