Rank the following goods from least to most elastic: gasoline, Unocal gasoline, gasoline at Murph's Unocal Station
A) Gasoline, Unocal gasoline, gasoline at Murph's Unocal Station
B) Gasoline, gasoline at Murph's Unocal Station, Unocal gasoline
C) Gasoline at Murph's Unocal Station, Unocal gasoline, gasoline
D) Unocal gasoline, gasoline at Murph's Unocal Station, gasoline
E) Unocal gasoline, gasoline, gasoline at Murph's Unocal Station
A
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The logic of control variables in IV regressions
A) parallels the logic of control variables in OLS B) only applies in the case of homoskedastic errors in the first stage of two stage least squares estimation C) is different in a substantial way from the logic of control variables in OLS since there are two stages in estimation D) implies that the TSLS is efficient
When price exceeds average variable cost for a firm, it is possible that: a. it is earning an economic profit. b. it is breaking even
c. it is suffering an economic loss. d. any of the above is true.
Which of the following is an exogenous variable in the Three-Sector-Model?
a. Industry risk b. Country risk c. Real risk-free interest rate d. Credit risk e. All of the above are exogenous variables.
Refer to the information provided in Figure 29.1 below to answer the question(s) that follow.
Figure 29.1Refer to Figure 29.1. If the condition of the economy at point E is realized by policy makers when the economy is at point G, policy is likely to be inappropriate due to
A. crowding out. B. the response lag. C. the recognition lag. D. the implementation lag.