Two variables are independent if as one variable __________, the other variable __________
A) rises; rises.
B) falls; falls.
C) rises; falls.
D) changes; does not change.
D
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An autoregression is a regression
A) of a dependent variable on lags of regressors. B) that allows for the errors to be correlated. C) model that relates a time series variable to its past values. D) to predict sales in a certain industry.
In the above figure, if the firm is producing at Q3 and charging a price of P3, it should
A) increase output and decrease price. B) decrease output and increase price. C) not change output or price. D) shut down.
Banks try to keep their level of excess reserves low because
A. the Fed charges a penalty for holdings of excess reserves. B. they are concerned that the money multiplier will become too large. C. they wish to maximize profits. D. bank regulators levy fines on the amount of excess reserves.
Which of the following is true when an economy is in long-run equilibrium?
What will be an ideal response?