R2 is a statistical measure which
A) determines how important one variable is in explaining the value of another variable.
B) tests the true value of a variable.
C) determines how well an equation can estimate the relationship between one variable and a set of other variables.
D) All of the above
C
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If the Fed's goal is to keep the interest rate fixed, a contractionary fiscal policy must be accompanied by ________ monetary policy that shifts the LM curve to the ________
A) an expansionary, right B) an expansionary, left C) a contractionary, right D) a contractionary, left
If the economy is in an inflationary boom, the Fed would most likely
a. increase bank reserves by raising the discount rate. b. increase bank reserves by buying government securities c. decrease bank reserves by lowering the discount rate. d. decrease bank reserves by selling government securities. e. decrease bank reserves by lowering the legal reserve requirement.
When a good is put onto the global market at a price below the cost to produce it, this is known as
A) the infant-industry argument. B) dumping. C) a quota. D) protection of domestic jobs.
Which of the following will most likely cause a change in the natural rate of unemployment?
A) changes in monetary policy B) changes in fiscal policy C) changes in expected inflation D) all of the above E) none of the above