The t-test is used to test hypotheses concerning the individual regression coefficients
Indicate whether the statement is true or false
TRUE
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Purchasing power parity's assumption that the real exchange is constant
A) is correct in nearly all instances. B) would be correct were it not for the existence of trade barriers. C) is not reasonable. D) is correct for trade between the United States and Japan, but incorrect in most other bilateral trading relations.
In the long-run, monopolistically competitive firms:
A. have excess capacity. B. produce at the minimum of average total cost. C. charge prices equal to marginal cost. D. both B and C are true.
The idea that the desires of resource suppliers and firms to further their own self-interest will automatically further the public interest is known as:
A. Consumer sovereignty B. The invisible hand C. Derived demand D. Creative destruction
According to Keynesian macroeconomists, prices adjust ________ to shocks, so the government should ________.
A. slowly; fight recessions B. rapidly; do little C. slowly; do little D. rapidly; fight recessions