Credibility is not important in ________
A) new Keynesian and traditional Keynesian theory
B) real business cycle and traditional Keynesian theory
C) real business cycle and new Keynesian theory
D) traditional Keynesian, new Keynesian and real business cycle theory
B
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The logic of control variables in IV regressions
A) parallels the logic of control variables in OLS B) only applies in the case of homoskedastic errors in the first stage of two stage least squares estimation C) is different in a substantial way from the logic of control variables in OLS since there are two stages in estimation D) implies that the TSLS is efficient
If unit costs decrease as the quantity of production increases and all inputs are variable, then a firm is experiencing
A) constant returns to scale. B) economies of scale. C) diseconomies of scale. D) falling economies of scope.
The marginal product of labor is defined as the change in
a. output per additional unit of revenue. b. output per additional unit of labor. c. revenue per additional unit of labor. d. revenue per additional unit of output.
Blu-ray disc players, iPhones, and hybrid cars are generally considered to be ________ goods.
A. durable B. nondurable C. intermediate D. service