If cyclical unemployment is eliminated in the economy, then
A) the unemployment rate is above the natural rate of unemployment.
B) the economy is considered to be at full employment.
C) the unemployment rate is below the natural rate of unemployment.
D) the economy is at less than full employment.
B
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Historically, which of the following is the most influential factor driving innovation in the hotel industry?
A. Downturns in the economic cycle B. Focus of the populace on travel in general C. Amenity creep D. Importance of innovation as seen by individual property managers E. Whether or not brand equity is seen as important at any given time
Which of the following assumptions is required for two-stage least squares estimation method?
A. There are perfect linear relationships among the instrumental variables. B. There is strong correlation between each instrumental variable and the error term. C. The conditional variance of the error term depends on an exogenous explanatory variable. D. The error term has zero mean.
A chief purpose of long-term contracts is to improve agents'
A) information. B) incentives. C) control over principals. D) security.
Contractionary monetary policy to prevent real GDP from rising above potential real GDP would cause the inflation rate to be ________ and real GDP to be ________
A) higher; higher B) higher; lower C) lower; lower D) lower; higher