The regression R2 is a measure of
A) whether or not X causes Y.
B) the goodness of fit of your regression line.
C) whether or not ESS > TSS.
D) the square of the determinant of R.
Answer: B) the goodness of fit of your regression line.
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In the foreign exchange market, how does a change in the expected future U.S. exchange rate affect the demand for dollars?
What will be an ideal response?
In the specific factors model, which of the following will increase the quantity of labor used in food production?
A) an increase in the price of food relative to that of cloth B) an increase in the price of cloth relative to that of food C) a decrease in the price of labor D) an equal percentage decrease in the price of food and cloth E) an equal percentage increase in the price of food and cloth
Refer to the accompanying figure. It is efficient for this farmer to:
A. grow 1,000 bushels of wheat and 500 bushels of corn. B. grow 250 bushels of wheat and 500 bushels of corn. C. grow 500 bushels of wheat and 250 bushels of corn. D. grow 500 bushels of wheat and 500 bushels of corn.
A decrease in the discount rate ____ both total and excess reserves and ____ the money supply.
A. increases; decreases B. decreases; increases C. decreases; decreases D. increases; increases