Which of the following is a measure of the explanatory power of the regression model?
A) t-test
B) R2
C) F-test
D) Durbin-Watson test
B
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The primary means of rationing goods and services in a market system is through
a. the pricing system. b. rationing coupons. c. government allocation. d. food stamps.
If commercial banks are maintaining a 5 percent reserve/deposit ratio and the Fed lowers the required reserve ratio to 3 percent, then banks may ________ their loans and deposits, and the money supply may ________.
A. decrease; increase B. decrease; decrease C. increase; increase D. increase; decrease
For which of the following would the absolute price elasticity of demand be greatest?
A. salt B. Dr. Pepper cola C. tickets to the Super Bowl D. gasoline
Which of the following statements is TRUE about the optimal quantity of pollution?
A. Firms should be allowed to determine the profit-maximizing amount of pollution abatement. B. Pollution abatement should continue up to the point where marginal cost equals the average total cost. C. Trade-offs exist between producing a cleaner environment and producing other goods and services. D. It equals zero.