Which school of thought believes that real GDP always equals potential GDP?
A) only classical
B) only Keynesian
C) Monetarist
D) both Keynesian and classical
A
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A country will likely experience an increase in poverty if
A) its population decreases over time. B) its real GDP per person growth rate increases over time. C) it does not receive foreign aid. D) its inflation rate decreases or slows over time. E) its real GDP growth rate decreases or slows over time.
The quantity of a good demanded tends to increase as its price falls because: a. a decrease in price shifts the demand curve to the right
b. a decrease in price shifts the demand curve to the left. c. a decrease in price shifts the supply curve to the right. d. a decrease in price leads consumers to substitute toward this now relatively cheaper product.
The collection of statutes aimed at curbing monopoly power is called
a. the 14th amendment. b. the Clayton Act. c. the Sherman Act. d. antitrust law.
Which of the following is the reason why standard errors measured by OLS differ from standard errors measured through Prais-Winsten transformation?
A. OLS standard errors account for serial correlation, whereas Prais-Winsten estimations do not. B. Prais-Winsten standard errors account for serial correlation, whereas OLS estimations do not. C. Prais-Winsten standard errors account for heteroskedasticity, whereas OLS estimations do not. D. OLS standard errors account for heteroskedasticity, whereas Prais-Winsten estimations do not.