Which of the following is a normative question about an initiative to impose a new tax?
A.All of the above are normative considerations.
B. What is the expected impact on producers and consumers?
C. How much revenue is the tax expected to raise?
D. Is the tax considered to be in the public interest?
D. Is the tax considered to be in the public interest?
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The self-correcting property of the economy means that output gaps are eventually eliminated by:
A. increasing or decreasing potential output. B. government policy. C. decreasing inflation only. D. increasing or decreasing inflation.
Ceteris paribus, explain why it is that when a lower ceiling price is imposed below equilibrium price, a greater deadweight loss results
Americans would probably be supportive of
A. strict controls on hours of work. B. limits on income potential. C. mandatory work limits. D. loose controls on economic activities.
Which of the following correctly identifies a reason why some authors prefer to report the standard errors rather than the t statistic?
A. Having standard errors makes it easier to compute confidence intervals. B. Standard errors are always positive. C. The F statistic can be reported just by looking at the standard errors. D. Standard errors can be used directly to test multiple linear regressions.