In a market economy, the _______ determines who gets the goods and services produced.
a) Magical hand
b) Government
c) Market mechanism
d) Stock market
Ans: c) Market mechanism
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In the above table, the cross price elasticity of demand for good X with good Y when PY falls from $20 to $18 is
A) -2. B) 0. C) +1. D) -1.
How would the real exchange rate need to change to get aggregate expenditure to increase?
A. Increase B. Decrease C. Remain constant D. Exchanges rates don’t generally affect aggregate expenditure.
Which term(s) in the general form of the t statistic is (are) computed differently between the usual OLS t-statistic and the heteroskedasticity-robust t-statistic?
A. Estimate and standard error. B. Estimate, standard error, and the hypothesized value. C. Estimate only. D. Standard error only.
As the interest rate increases,
A. the future return to an investment decreases. B. the present value of future benefits decreases. C. the present value of future benefits increases. D. the present value of a future investment increases. E. the discount rate decreases.