?The serial correlation-robust standard errors are typically larger than the usual OLS standard errors when there is serial correlation.
Answer the following statement true (T) or false (F)
True
Rationale: ?FEEDBACK: The serial correlation-robust standard errors are typically larger than the usual OLS standard errors when there is serial correlation.
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Jones and Smith live in the same apartment building. Jones loves to play his opera recordings so loudly that Smith can hear them. Smith hates opera. Jones receives $100 of benefits from his music and Smith suffers $60 of damages. a
From an efficiency perspective, should Jones be allowed to play his opera CDs? b. Suppose the apartment building does not have any rules about noise. Jones and Smith can bargain at zero cost. Will they reach an agreement where Jones gives up his beloved operas? c. Now suppose the apartment building passes a rule that says residents are not allowed to play music their neighbors can hear if any of the neighbors object. As before, Jones and Smith can bargain at zero cost. Will Jones be allowed to play his music?
The conversion of a barter economy to one that uses money
A) increases efficiency by reducing the need to exchange goods and services. B) increases efficiency by reducing the need to specialize. C) increases efficiency by reducing transactions costs. D) does not increase economic efficiency.
If wages drop below the market equilibrium level in a competitive labor market:
A. firms will demand more labor than workers are willing to supply. B. firms will be able to offer lower wages and still fill all the jobs they have. C. unemployment will persist until the wage increases. D. All of these statements are true.
If there are two goods and two countries, then one country can have
A) a comparative advantage in only one good. B) a comparative advantage in both goods. C) a higher opportunity cost of producing both goods. D) a lower opportunity cost of producing both goods.