Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, a decrease in unemployment may be represented by the movement from
A. B to A.
B. C to D.
C. B to D.
D. A to C.
Answer: B
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Which of the following would not be an example of a productivity shock?
A) The introduction of new management techniques B) A change in government regulations affecting production C) A change in the level of government transfer programs D) A spell of unusually good or unusually bad weather
The following are all least squares assumptions with the exception of:
A) The conditional distribution of ui given Xi has a mean of zero. B) The explanatory variable in regression model is normally distributed. C) (Xi, Yi), i = 1,..., n are independently and identically distributed. D) Large outliers are unlikely.
When those on the informed side of a market self-select, the problem of __________ occurs
a. natural selection b. external benefits c. adverse selection d. the winner's curse e. the common pool
When there is a recessionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; decline B. increase; raise; decline C. decline; lower; expand D. decline; raise; decline