Under the least squares assumptions (zero conditional mean for the error term, Xi and Yi being i.i.d., and Xi and ui having finite fourth moments), the OLS estimator for the slope and intercept
A) has an exact normal distribution for n > 15.
B) is BLUE.
C) has a normal distribution even in small samples.
D) is unbiased.
Answer: D
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The differences between a competitive market and a monopoly include all of these except:
a. excess profits would be competed away in a competitive market, but persist in a monopolistic market b. a competitive market would work toward production of the quantity consumers seek, while a monopolistic market may restrict output to raise short term prices c. a competitive market's cost curves will shift with the market, while a monopoly's cost curves will remain stable d. a competitive market would work toward production of the quantity consumers seek, while a monopolistic market may restrict output to raise long term prices
Diminishing returns set in with the _____ worker.
The stock market is also known as the ________.
A) capital market B) foreign-exchange market C) bond market D) equity capital market
An increase in aggregate demand is most likely to result in
A. inflation. B. recession. C. economic stagnation. D. a decrease in real GDP.