Unexpected discoveries of mineral reserves will ordinarily cause the price of these minerals to increase.
Answer the following statement true (T) or false (F)
False
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If GDP included the value of leisure time, the value of U.S. GDP would most likely increase
Indicate whether the statement is true or false
The quantity supplied of a good:
A) is inversely related to the price of the good. B) is determined irrespective of the market price. C) is always equal to the quantity demanded of the good. D) is the amount of the good that sellers are ready to supply at a given price.
Simultaneous causality bias
A) is also called sample selection bias. B) happens in complicated systems of equations called block recursive systems. C) results in biased estimators if there is heteroskedasticity in the error term. D) arises in a regression of Y on X when, in addition to the causal link of interest from X to Y, there is a causal link from Y to X.
The land of Ur increases its capital stock. As a result, the long-run aggregate supply curve shifts ________ and so does the ________ curve.
What will be an ideal response?