Which of the following is a property of dummy variable regression?
A. This method is best suited for panel data sets with many cross-sectional observations.
B. The R-squared obtained from this method is lower than that obtained from regression on time-demeaned data.
C. The degrees of freedom cannot be computed directly with this method.
D. The major statistics obtained from this method are identical to that obtained from regression on time-demeaned data.
Answer: D
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Which of the following counts as part of M1?
A) $5,000 worth of gold B) $5,000 in a checking account C) $5,000 worth of government bonds D) $5,000 credit line on a credit card E) $5,000 of real estate
Whenever indifference curves have kinks, marginal willingness to pay curves have horizontal "flat spots".
Answer the following statement true (T) or false (F)
Government officials deciding the distribution of all resources is a feature of a
a. mixed economy b. market economy c. command economy d. traditional economy
The United States need never pay off the national debt; it can simply refinance the debt when it comes due. The flaw in thinking that the government must pay it off is based on the fallacy of
A. benefit-cost ratio. B. post hoc, ergo propter hoc. C. composition. D. a priori expectations.