If you were building a macroeconomic model that explores the effect of an increase in income tax rates on the size of the labor force, the endogenous variable(s) would be
A) income tax rates.
B) the size of the labor force.
C) both income tax rates and the size of the labor force.
D) neither income tax rates nor the size of the labor force.
B
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If the government imposes a tax of $3,000 on everyone, the tax would be a(n)
a. income tax. b. consumption tax. c. lump-sum tax. d. marginal tax.
Which of the following is a test of nonnested models??
A. ?Davidson-MacKinnon test B. ?Standard F test C. ?Regression Specification Error Test D. Whitetest
A perfectly competitive firm in the long run earns:
A. zero economic profits and zero normal profits. B. positive normal profits but zero economic profits. C. positive economic profits but zero normal profits. D. positive economic profits and positive normal profits.
TC -TVC =
A. AFC. B. ATC. C. TFC. D. AVC.