Braun and Evans found that
A. professional forecasters have rational expectations of inflation.
B. electricity use by producers rises sharply in economic upturns.
C. shocks to fiscal policy are the main source of business cycle fluctuations.
D. the measured Solow residual varied sharply over the seasons.
Answer: D
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Refer to Figure 7.4. This isoquant exhibits:
A. increasing MRTSLK as we move to the southeast along the isoquant.
B. declining MRTSLK as we move to the northwest along the isoquant.
C. constant MRTSLK as we move along the isoquant.
D. declining MRTSLK as we move to the southeast along the isoquant.
The distributed lag model assumptions include all of the following with the exception of:
A) There is no perfect multicollinearity. B) Xt is strictly exogenous. C) E(ut Xt, Xt-1, Xt-2) = 0 D) The random variables Xt and Yt have a stationary distribution.
A nation's production possibilities curve [PPC] will shift outward if its workers receive better training
a. True b. False Indicate whether the statement is true or false
If assets are relatively _____, and uncertainty is _____, transactions usually take place in markets
a. specific; quite low b. nonspecific; quite low c. specific; quite high d. nonspecific; quite high