The current Debt to GDP level in the U.S.
A) is higher than they it has ever been
B) is the highest in the world
C) is about 100%
D) grows at about $10 billion per year
Answer: C) is about 100%
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Calculate the government purchases multiplier if the marginal propensity to consume equals 0.75, the tax rate is 0.2, and the marginal propensity to import equals 0.3
A) 1.43 B) 1.6 C) 3.33 D) 4
Switzerland has experienced the lowest rate of price increases in the post World War II period. Consequently, Lucas would predict
A) small supply responses to variations in the inflation rate. B) large supply responses to variations in the inflation rate. C) small demand responses to variations in the inflation rate. D) large demand responses to variations in the inflation rate.
With heteroskedastic errors, the weighted least squares estimator is BLUE. You should use OLS with heteroskedasticity-robust standard errors because
A) this method is simpler. B) the exact form of the conditional variance is rarely known. C) the Gauss-Markov theorem holds. D) your spreadsheet program does not have a command for weighted least squares.
Which of the following enhances the ability of waste companies to collude?
A. High interest rates B. Differentiated nature of products C. Large number of firms D. Decals on waste receptacles