The price a firm charges may be related to the time of the day when its product is consumed
Indicate whether the statement is true or false
True
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Which of the following statements is likely to be true according to Okun's Law?
A) The unemployment rate remains constant when the growth rate of real GDP is 0%. B) The unemployment rate remains constant when the growth rate of real GDP is 3%. C) The unemployment rate increases when the growth rate of real GDP is above 3%. D) The unemployment rate declines when the growth rate of real GDP is below 3%.
In the short run with predetermined prices, when output is less than aggregate expenditure, firms will:
A. reduce production. B. decrease aggregate expenditure. C. increase aggregate expenditure. D. increase production.
Dummy variables are used in time-series forecasting models
A. to change the intercept of a regression in selected periods. B. to account for random variation in the data. C. to account for seasonal variation in the data. D. both a and b E. both a and c
Refer to Figure 15.7. Suppose the Federal Reserve ________ bonds in the open market. The money supply will decrease and cause a shift from point ________.
A. sells; B to point C B. buys; B to point A C. buys; B to point C D. sells; C to point B