The work of Robert Lucas and Thomas Sargent ________ the existence of a downward-sloping Phillips Curve in the ________
A) first proposed, short run
B) first proposed, short and long runs
C) cast further doubt on, long but not short run
D) cast further doubt on, short and long runs
D
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Refer to Table 15-1. What is the firm's profit-maximizing output and what is the price charged to sell this output?
A) P = $65; Q = 14 B) P = $70; Q = 13 C) P = $80; Q = 11 D) P = $85; Q = 10
The end of racial preferences in college admissions has had no noticeable effect on minority enrollments
Indicate whether the statement is true or false
If you had a two regressor regression model, then omitting one variable which is relevant
A) will have no effect on the coefficient of the included variable if the correlation between the excluded and the included variable is negative. B) will always bias the coefficient of the included variable upwards. C) can result in a negative value for the coefficient of the included variable, even though the coefficient will have a significant positive effect on Y if the omitted variable were included. D) makes the sum of the product between the included variable and the residuals different from 0.
Which of the following is a good example of efficient specialization and voluntary exchange?
a. A college professor hires someone to rototill a garden for spring planting. b. A college professor works on the engine of a car for a neighbor who is a mechanic. c. A lawyer decides to babysit his young child and agrees to do so for others for cash. d. A physician agrees to help a neighbor work on her income tax return in exchange for her bookkeeping services.