Which of the following provides a measure of the overall fit of a regression?
A. The F-statistic and R-square
B. F-statistic
C. R-square
D. t-statistic
Answer: A
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An increase in the real wage rate ________ the quantity of labor demanded and ________ the quantity of labor supplied
A) decreases; increases B) increases; increases C) decreases; decreases D) increases; decreases E) does not change; does not change
When the representative firm maximizes profits,
A) it sells as much as possible. B) the wage equals average labor productivity. C) the wage equals marginal labor productivity. D) business taxes must be zero.
Which of the following statements is false?
a. A decrease in the reserve ratio does not change the monetary base. b. Purchases of foreign currency by the central bank increase the monetary base. c. Discount loans to banks decrease a nation's monetary base. d. All are false. e. All are true.
In Keynes's view, an excess quantity of money demanded causes people to:
A. sell bonds and the interest rate rises. B. buy bonds and the interest rate falls. C. buy bonds and the interest rate rises. D. increase speculative balances.