The law of demand states that price and ______________ are _____________ related, ceteris paribus
A) demand; inversely
B) quantity demanded; inversely
C) demand; directly
D) quantity demanded; directly
E) ?quantity supplied; directly
B
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In the regression model Yi = ?0 + ?1Xi + ?2Di + ?3(Xi × Di) + ui, where X is a continuous variable and D is a binary variable, to test that the two regressions are identical, you must use the
A) t-statistic separately for ?2 = 0, ?2 = 0. B) F-statistic for the joint hypothesis that ?0 = 0, ?1 = 0. C) t-statistic separately for ?3 = 0. D) F-statistic for the joint hypothesis that ?2 = 0, ?3= 0.
If the elasticity of demand for cigarettes is 0.4, then an increase in the price of a pack of cigarettes from $5.00 to $6.00 would reduce quantities demanded by about
a. 7 percent. b. 40 percent. c. 42 percent. d. 220 percent.
All of the following are examples of human capital except:
A. an eye for decorating and color. B. a PhD in chemistry. C. an automotive manual. D. physical strength.
Treasury securities with terms as short as one month are known as
A. Treasury loans. B. Treasury dollars. C. Treasury bonds. D. Treasury bills.