Which of the following statements is true of confidence intervals?
A. Confidence intervals in a CLM are also referred to as point estimates.
B. Confidence intervals in a CLM provide a range of likely values for the population parameter.
C. Confidence intervals in a CLM do not depend on the degrees of freedom of a distribution.
D. Confidence intervals in a CLM can be truly estimated when heteroskedasticity is present.
Answer: B
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A decrease in the quantity of money supplied shifts the money supply curve to the ________, and the equilibrium interest rate ________, everything else held constant
A) right; falls B) right; rises C) left; falls D) left; rises
Implicit costs are:
a. the opportunity costs of using resources owned by the entrepreneur in his/her own business. b. payments the business owner must make on borrowed funds. c. costs which vary as the level of output varies. d. those payments the business owner makes in cash. e. the payments the business owner makes for public relations, such as donations to charity.
The income security program category for federal government outlays includes spending for:
a. Social Security. b. Medicare. c. Welfare. d. Unemployment compensation. e. All of these.
Both the crowding-out effect and new classical model indicate that
a. expansionary fiscal policy is a highly effective weapon with which to fight an economic downturn. b. restrictive fiscal policy is a highly effective weapon with which to control inflation caused by excess demand. c. there are side effects of budget deficits that will substantially, if not entirely, offset their expansionary impact on aggregate demand. d. fiscal policy can be used effectively to restrain inflation but it is largely ineffective as a weapon against recession.