Besides the Central Limit Theorem, the other cornerstone of asymptotic distribution theory is the
A) normal distribution.
B) OLS estimator.
C) Law of Large Numbers.
D) Slutsky's theorem.
Answer: C
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Which of the following macroeconomic variables is the most seasonally procyclical?
A) Expenditure on services B) The unemployment rate C) Expenditure on durable goods D) The real wage
Between late 2007 and 2012, the Fed's balance sheet:
A) remained about the same B) more than doubled C) more than tripled D) rose tenfold
According to the quantity theory of money, which one of the following economic variables would change in response to an increase in the money supply?
a. prices b. real income c. velocity d. employment
If the price of peanut butter decreases substantially (ceteris paribus), the equilibrium quantity of jelly, a complement, is likely to:
a. increase, and the equilibrium price of jelly is likely to decrease. b. increase, and the equilibrium price of jelly is likely to increase. c. decrease, and the equilibrium price of jelly is likely to decrease. d. decrease, and the equilibrium price is of jelly likely to increase.