Assuming the effect of a specific outcome being tested is zero is known as
A. regression discontinuity.
B. a zero-sum game.
C. a statistical anomaly.
D. the null hypothesis.
Answer: D
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In the basic closed-economy ISLM model, the IS curve can be described by an equation where
A) output is a function of consumption. B) money is a function of interest rates. C) output is a function of money. D) output is a function of interest rates.
Which of the following arguments is consistent with the claims of Robert Fogel (1989)?
(a) The success of slave labor was tied closely to the number of labor hours per year. (b) Compared to the slaves, the self-sufficient farmers in the North and those in the South were more likely to not work on Sundays, face a shorter work day and experience regular rest times. (c) The productivity of slave labor increased with the use of specialization and rhythm. (d) All of the above.
Let R2unrestricted and R2restricted be 0.4366 and 0.4149 respectively. The difference between the unrestricted and the restricted model is that you have imposed two restrictions. There are 420 observations. The F-statistic in this case is
A) 4.61 B) 8.01 C) 10.34 D) 7.71
Prohibiting price increases in situations of true scarcity
A. prevents the market mechanism from reallocating resources more efficiently. B. discourages production. C. may lead to extreme shortages of vitally needed products. D. All of the responses are correct.