In the United States, all property is privately owned.
Answer the following statement true (T) or false (F)
False
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Which of the following is NOT a step involved in optimization in levels?
A) Calculating the total net benefit of each alternative B) Choosing the alternative with the highest net benefit C) Calculating the marginal consequences of moving between alternatives D) Converting all costs and benefits into a common value of measurement
Which of the following is the best example of a tariff?
A) a $5,000 per-car fee imposed on all sports utility vehicles imported into the United States B) a limit imposed on the number of sports utility vehicles that the United States can import from Japan C) a tax placed on all sports utility vehicles sold in the domestic market D) a subsidy granted by the U.S. government to domestic sports utility vehicle manufacturers so they can compete more effectively with foreign sports utility vehicle manufacturers
Multiperiod forecasting with multiple predictors
A) is the same as the iterated AR forecast method. B) can use the iterated VAR forecast method. C) will yield superior results when using the multiperiod regression forecast h periods into the future based on p lags of each Yt , rather than the iterated VAR forecast method. D) will always yield superior results using the iterated VAR since it takes all equations into account.
The goal of an economist who formulates new theories is to
a. provide an interesting framework of analysis, whether or not the framework turns out to be of much use in understanding how the world works. b. provoke stimulating debate in scientific journals. c. contribute to an understanding of how the world works. d. demonstrate that economists, like other scientists, can formulate testable theories.