Refer to the above table. Which variables in the table are NOT autonomous?
A) planned consumption and planned saving
B) planned saving only
C) taxes, government spending, and saving
D) planned investment, net exports, and government spending
A
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The efficient markets hypothesis suggests that if an unexploited profit opportunity arises in an efficient market
A) it will tend to go unnoticed for some time. B) it will be quickly eliminated. C) financial analysts are your best source of this information. D) all profits will be eliminated through taxation.
The p-value for a one-sided left-tail test is given by
A) Pr(Z - tact ) = ?(tact). B) Pr(Z < tact ) = ?(tact). C) Pr(Z < tact ) < 1.645. D) cannot be calculated, since probabilities must always be positive.
If demand were inelastic, then we should immediately:
a. cut the price. b. keep the price where it is. c. go to the Nobel Prize Committee to show we were the first to find an upward sloping demand curve. d. stop selling it since it is inelastic. e. raise the price.
The demand curve for labor slopes downward because: a. few workers are willing to work at low wages
b. capital has been substituted for labor in most industries. c. of the diminishing marginal product of labor. d. of all of the above.