Time series variables fail to be stationary when
A) the economy experiences severe fluctuations.
B) the population regression has breaks.
C) there is strong seasonal variation in the data.
D) there are no trends.
Answer: B) the population regression has breaks.
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List the three main sources of economic development
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What is the primary reason that the highest quintile's share of the national income increased very rapidly over the last 20 years?
A. Poor people are lazy and do not want to work. B. All of our jobs have been shipped overseas. C. Tax cuts on the property owners and high income citizens. D. High cost of health care.
When comparing market and public sector decision making, which statement is NOT true?
A) Self-interest is the motivating force in each decision making arena. B) In both decision making sectors, majority rule is how things are done. C) In both decision making sectors, there are scarcity constraints. D) Collective (political) outcomes and economic outcomes may differ.
In Atlanta, tickets for professional and college football games are substitutes. An increase in the ticket price for professional football, other things being equal, will
a. increase the demand for college football tickets. b. decrease the demand for college football tickets. c. not change the demand for college football tickets. d. decrease the demand for professional football games.