Members of Congress promising to support each other's legislation is known as
A) logrolling.
B) implicit collusion.
C) explicit collusion.
D) protectionism.
Answer: A
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Let W be the included exogenous variables in a regression function that also has endogenous regressors (X). The W variables can
A) be control variables B) have the property E(ui|Wi) = 0 C) make an instrument uncorrelated with u D) all of the above
Using Figure 1 above, if the aggregate demand curve shifts from AD1 to AD2 the result in the short run would be:
A. P1 and Y2. B. P3 and Y1. C. P2 and Y2. D. P2 and Y3.
"Tax cuts, by providing incentives to work, save, and invest, will raise employment and lower the price level." This argument is made by the:
A. Keynesian economists. B. supply-side economists. C. classical economists. D. monetarists.
The proposition that policy actions have no real effects in the short run if the policy actions are anticipated is known as
A. the unemployment stabilization proposition. B. the policy illusion proposition. C. the Keynesian proposition. D. the policy irrelevance proposition.