The forecast is
A) made for some date beyond the data set used to estimate the regression.
B) another word for the OLS predicted value.
C) equal to the residual plus the OLS predicted value.
D) close to 1.96 times the standard deviation of Y during the sample.
Answer: A) made for some date beyond the data set used to estimate the regression.
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The United States has greater inequality of income than
a. Japan. b. Germany and Australia. c. most industrialized nations. d. all of the above.
Nondiscretionary fiscal policy
A. multiplies declines in aggregate demand. B. multiplies inflationary growth of aggregate demand. C. does not require any changes in legislation. D. includes government expenditures, taxes and monetary policy.
The effect time lag of fiscal policy refers to
A. the difficulty in getting the President and the Congress to agree on an appropriate policy. B. the time between the onset of a policy and when the policy has impact on the economy. C. the time needed for Congress to enact a policy. D. the delay in recognizing an economic problem.
An increase in expected future income will:
A. Increase aggregate demand and aggregate supply B. Decrease aggregate demand and aggregate supply C. Increase aggregate supply D. Increase aggregate demand