Which of the following is NOT a factor that determines the price elasticity of demand?
A) the amount that suppliers have made available
B) the percentage of a consumer's total budget spent on the good
C) the existence of substitutes
D) the length of time allowed for adjustments to change in the price of the commodities
A
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An example of a clean alternative fuel is
a. hydrogen d. biodiesel b. methanol e. all of the above c. E(85) ethanol
It is important to distinguish between the privately held portion of the national debt and the portion held by government agencies and the Federal Reserve System because:
a. the government will not have to repay the privately held debt. b. only the privately held debt creates a net interest liability for the federal government. c. the privately held debt does not create a net interest liability for the federal government. d. taxes will have to be raised in order to pay the interest on the debt held by the Federal Reserve system.
Which of the following assumptions is required for two stages least squares estimation with time series data but not required for two-stage least squares estimation with cross sectional data?
A. The conditional mean of the error term is zero. B. The error term has constant conditional variance. C. The model includes at least one dummy variable. D. The error terms are not serially correlated.
In the graph shown, which of the world supply curves create a trade deficit?
A. WAS0 B. WAS1 C. WAS2 D. None create deficits.