Refer to the information. The equilibrium level of GDP for this economy is:
Answer the question on the basis of the following information for a mixed open economy. The letters Y, C a , I g , X n , G, and T stand for GDP, consumption, gross investment, net exports, government purchases, and net taxes respectively. Figures are in billions of dollars.
A. $600.
B. $530.
C. $415.
D. $400.
B. $530.
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Alan Jones owns a company that sells life insurance. When he employs 10 salespersons his firm sells $200,000 worth of contracts per week, and when he employs 11 salespersons, total revenue is $210,000 . The marginal revenue product of the 11th salesperson is:
a. $20,000. b. $410,000. c. $210,000. d. $10,000.
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Which of the following is true?
A. In ordinary least squares estimation, each observation is given a different weight. B. In weighted least squares estimation, each observation is given an identical weight. C. In weighted least squares estimation, less weight is given to observations with a higher error variance. D. In ordinary least squares estimation, less weight is given to observations with a lower error variance.