In general, we could say that
A. liberal economists favor a larger economic role for government and conservatives favor a smaller role.
B. conservative economists favor a larger economic role for government and liberals favor a smaller role.
C. both liberals and conservatives favor a larger economic role for government.
D. liberals and conservatives favor a smaller economic role for government.
A. liberal economists favor a larger economic role for government and conservatives favor a smaller role.
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Consider an economy that only produces wooden chairs. In 2012, the economy produced 100 wooden chairs priced at $10 each. The nominal GDP of the economy for the year 2012 will be:
A) $10. B) $1,000. C) $100. D) $10,000. Consider an economy that produces only cell phones. In the year 2012, the economy manufactures 275 cell phones, and each cell phone sells at $200. In the year 2013, the economy manufactures 280 cell phones but the price of each cell phone falls to $180.
When the Fed sells bonds on a mass scale
A) bonds go to the Fed, and dollars go into the banking system, so the money supply tends to rise. B) bonds go to the Fed, and dollars exit the banking system, so the money supply tends to fall. C) banks have fewer bonds and more dollars, so the money supply tends to rise. D) banks have more bonds and fewer dollars, so the money supply tends to fall.
This graph demonstrates the domestic demand and supply for a good, as well as a tariff and the world price for that good.
According to the graph shown, if the economy decides to impose a tariff, the government can expect to raise how much in government revenues?
A. $37,500. B. $19,500. C. $27,000. D. $34,500.
The correlated random effects approach cannot be applied to models with many time-varying explanatory variables.
Answer the following statement true (T) or false (F)