In order to convert nominal gross domestic product (GDP) to real gross domestic product (GDP), we must divide:
a. real GDP by the price index
b. nominal GDP by the price index.
c. the price index by nominal GDP.
d. the price index by real GDP.
e. nominal GDP by 100.
b
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The reduction or covering of a foreign exchange risk is called
A) hedging. B) speculation. C) intervention. D) arbitrage.
A rational consumer should not consume more of a good when
a. total utility is decreasing b. marginal utility is diminishing c. one unit has already been consumed d. income is decreasing e. the price increases
U.S. productivity dramatically slowed down in 1973 until the early _________ (decade).
Fill in the blank(s) with the appropriate word(s).
If the error term is correlated with any of the independent variables, the OLS estimators are:
A. biased and consistent. B. unbiased and inconsistent. C. biased and inconsistent. D. unbiased and consistent.