Which of the following tests can be used to check for cointegration between two series?
A. Wald test
B. Breush-Pagan test
C. White test
D. Engle-Granger test
Answer: D
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Refer to Figure 22-1. Within a country, the impact of wars and revolutions and their subsequent destruction of capital is reflected in the per-worker production function in the figure above by a movement from
A) B to A. B) B to C. C) C to A. D) A to B.
For a given rate of interest, the total interest you receive from lending money
A) increases with the frequency of compounding. B) decreases with the frequency of compounding. C) is independent of the frequency of compounding. D) is greatest when there is no compounding.
The price elasticity of demand for good x is defined as:
a. percentage change in px / percentage change in x. b. percentage change in x /percentage change in px. c. percentage change in x/percentage change in income. d. percentage change in x /percentage change in py.
The gross domestic product (GDP) of an economy for a particular year is likely to increase if _____
a. workers go on longer vacations during that year b. the length of an average work week decreases c. homeowners hire lawn care services rather than maintaining the lawns themselves d. people cook food at home instead of buying restaurant meals e. the sale of illegal drugs increases