Which of the following is NOT true about a certificate of convenience and public necessity?
A) It is a barrier to entry.
B) It is a patent.
C) It is issued by a government agency.
D) It limits competition.
Answer: B
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If the marginal propensity to consume (MPC) is 0.9, the spending multiplier will be
A) 10. B) 1.11. C) 0.9. D) 0.1.
If a "break" occurs in the population regression function, then
A) inference and forecasting are compromised when neglecting it. B) an Augmented Dickey Fuller test, rather than the Dickey Fuller test, should be used to test for stationarity. C) this suggests the presence of a deterministic trend in addition to a stochastic trend. D) forecasting, but not inference, is unaffected, if the break occurs during the first half of the sample period.
Over the past 50 years, the U.S. poverty rate was at its lowest level in
a. 1973. b. 1980. c. 1990. d. 2008.
Refer to the information provided in Figure 24.1 below to answer the question(s) that follow.
Figure 24.1Refer to Figure 24.1. Suppose that the consumption function is C = 300 + 0.5Yd and taxes are $300 billion, at equilibrium the value of autonomous consumption is
A. $400 billion. B. $300 billion. C. $200 billion. D. $100 billion.