The following problems could be analyzed using probit and logit estimation with the exception of whether or not
A) a college student decides to study abroad for one semester.
B) being a female has an effect on earnings.
C) a college student will attend a certain college after being accepted.
D) applicants will default on a loan.
Answer: B) being a female has an effect on earnings.
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Given a price elasticity of demand of -0.33, a decrease in price will
A) reduce total revenue. B) increase total revenue. C) leave total revenue unchanged. D) decrease quantity.
Which statement is true?
A. The Federal Reserve has an excellent record as a "lender of last resort." B. There is little debate about whether or not the Federal Reserve Board should be independent. C. The power of the Federal Reserve is centered largely in its Board of Governors. D. The stockholders in the Federal Reserve receive large profits.
Responses to global climate change include the alteration of consumer and business behavior to reduce any damage that might occur from global climate change. This is called
A. a carbon tax. B. revealed preference systems. C. mitigation. D. adaptation.
An appreciation of one's currency means that:
A. the country's exports will become less expensive. B. the country's imports will become more expensive. C. the country's imports will become less expensive. D. it now requires more of this currency in exchange for one unit of another currency.