If the R-squared value is low, then using OLS equation is very easy to predict individual future outcomes on y given a set of values for the explanatory variables.?
Answer the following statement true (T) or false (F)
False
Rationale: FEEDBACK: If the R-squared value is low, then using OLS equation is difficult to predict individual future outcomes on y given a set of values for the explanatory variables.?
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Expenditures on advertising ________
A) can lower average total cost if the advertising increases the quantity sold by a large enough amount B) cannot lower average total cost because when a firm advertises it increases its costs C) always lower average total cost because whenever a firm advertises, it increases the quantity sold D) are variable costs so do not affect the average total cost
The gasoline tax
a. is similar to most other taxes in that it causes deadweight losses. b. produces the unfortunate side-effect of making the roads more dangerous. c. can be viewed as a corrective tax aimed at multiple negative externalities associated with driving. d. can be viewed as a command-and-control policy aimed at discouraging people from driving.
An economic model is a:
A. realistic version of an economic environment. B. detailed version of an economic issue. C. fictional representation of an entire economy. D. simplified representation of an economic environment.
Real consumption is a function of real disposable income, but the simple Keynesian model uses real GDP instead of real disposable income. This is appropriate since
A. real disposable income is a fixed percentage of real GDP. B. real GDP is a fixed percentage of real disposable income. C. we cannot measure either exactly and the purpose of the exercise is theoretical only. D. real disposable income tends to move proportionately with real GDP.