To judge a statistical relationship, should a researcher preferably rely on a small sample or a large sample? Explain your answer
What will be an ideal response?
A key strength of economic and statistical analysis is the amount of data used. Small samples are not representative of the entire population. Therefore, the predictions of a model based on smaller samples may be only a very weak approximation of some real world phenomena and lead to inaccurate predictions. Using a larger sample, or in other words, a lot of data, strengthens the force of an empirical argument as the researchers can make more precise statements.
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What is downward wage rigidity?
What will be an ideal response?
A member of the Board of Governors of the Federal Reserve is appointed by
a. Congress for 12 years. b. the President, with the advice and consent of the Senate, for a 14-year term. c. the President, for life. d. members of the House of Representatives for a 10-year term.
Refer to the information provided in Figure 15.1 below to answer the question(s) that follow. Below are cost curves for Dom's Barber Shop, a monopolistically competitive firm. 
Figure 15.1 Refer to Figure 15.1. If Dom's Barber Shop is maximizing profit, it is earning a profit of
A. $0. B. $80. C. $120. D. $320.
Measuring the sensitivity of bank profits to changes in interest rates by multiplying the gap for several maturity subintervals times the change in the interest rate is called
A) basic gap analysis. B) the maturity bucket approach to gap analysis. C) the segmented maturity approach to gap analysis. D) the segmented maturity approach to interest-exposure analysis.