When measuring economic growth, economists typically focus on per capita real GDP in order to account for variations in the:
a. size of the population
b. price level
c. quality of goods and services
d. both (a) and (b) above
Ans: d. both (a) and (b) above
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The coefficient of a linear regression equation indicates
A) the change in the dependent variable relative to a unit change in the independent variable. B) the change in the independent variable relative to a unit change in the dependent variable. C) the percentage change in the dependent variable relative to a unit change in the independent variable. D) the percentage change in the independent variable relative to a unit change in the dependent variable.
If a payment received two years from now has a present value of $200 and the annual interest rate on the payment is 5 percent, then the future value of the payment is:
A. $220.50. B. $210.50. C. $190.50. D. $171.50.
You observe that the demand for pomelo is given by Qd = 8,000-20Pand the supply of pomelo is given by Qs = 2,000 + 20P. What is the market equilibrium for pomelo?
A. P = 150, Q = 5,000 B. P = 500, Q = 16,000 C. P = 200, Q = 3,000 D. P = 50, Q = 2,500
Describe the relationship between the size of the MPC and the multiplier. How does it compare to the relationship between the size of the MPS and the multiplier?
What will be an ideal response?