In the United States since 1929, the duration of recessions on average has been:
A. longer than the duration of expansions.
B. shorter than the duration of expansions.
C. steadily increasing.
D. steadily decreasing.
Answer: B
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Changes in real planned investment spending have
A) an inverse relationship to changes in the interest rate. B) no identifiable relationship to changes in the interest rate. C) a direct relationship to changes in the level of household savings. D) a direct relationship to changes in interest rates.
The above figure shows the demand and cost curves for a monopolistically competitive firm in the long run. The firm maximizes its profit by
A) producing 8 units and charging a price of $5. B) producing 8 units and charging a price of $15. C) producing 16 units and charging a price of $10. D) producing 20 units and charging a price of $25.
Which of the following has a more elastic demand?
a. pizza b. cereal c. Hershey's chocolate bar d. bread
First-differenced estimation gives unbiased estimators if the regression model includes a lagged dependent variable.
Answer the following statement true (T) or false (F)