The time between implementation of a macro-policy change and when the change exerts its primary influence is called the
a. impact lag.
b. recognition lag.
c. administrative lag.
d. tax reform lag.
A
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The shape of the productivity curve reflects the
A) effects of capital accumulation. B) effects of technological progress. C) change in labor productivity as human capital increases. D) law of diminishing marginal returns. E) effects of population growth.
An asset whose value is based on the value of another asset is called a:
A. derivative. B. dividend. C. stock. D. bond.
In a simultaneous equations model, if any variable is determined outside of the model, then it is considered a(n):?
A. ?endogenous variable. B. ?random variable. C. ?exogenous variable. D. ?error variable.
Refer to the information provided in Table 22.2 below to answer the question(s) that follow. Table 22.2 PointAggregate Income (Y)Aggregate Consumption (C) A 10 14 B 20 23 C 30 25 D 40 26 E 50 34 F 60 39The data in the table was used to estimate the following consumption function: C = 12 + 0.4YRefer to Table 22.2. Which of the following points is (are) the best fit for the given consumption function?
A. A and D B. B and F C. C D. E