Which of the following examples would most likely not be included in the GDP?
a. Mats critiques manuscripts for a publisher.
b. Chiara writes a book review for a magazine.
c. Nicole copyedits a research paper for her husband.
d. Oskar does research for a professor.
c. Nicole copyedits a research paper for her husband.
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Juanita quit her job to move to Santa Fe to be closer to her family. She is actively looking for a new job in Santa Fe. Juanita is considered
A) frictionally unemployed. B) structurally unemployed. C) not to be unemployed. D) cyclically unemployed.
Targeting interest rates can be procyclical because
A) an increase in income increases interest rates, causing the Fed to buy bonds, increasing the monetary base and money supply, leading to further increases in income. B) an increase in interest rates increases income, causing the Fed to buy bonds, increasing the monetary base and money supply, leading to further increases in income. C) an increase in the monetary base increases the money supply, causing the Fed to buy bonds, increasing the monetary base and money supply, leading to further increases in income. D) an increase in income increases the monetary base and money supply, causing the Fed to buy bonds to increase interest rates and income.
Which is an ironic solution to the government protected monopoly?
A) The government might try to "force" less competition in the market. B) The government might "do more" by "doing less," i.e., by removing the monopoly's protection. C) The dead weight loss goes to the government. D) The inherent unfairness of monopoly can only be solved by dictatorship.
Under the classical errors-in-variables (CEV) assumption, the measurement error means that the estimated OLS effect, on average, is closer to zero than the true effect.
Answer the following statement true (T) or false (F)