An advantage of the establishment survey over the household survey of the labor market is that the establishment survey
A) is based on actual payrolls, rather than on unverified answers.
B) includes the number of self-employed persons.
C) includes persons employed at newly opened firms.
D) provides an estimate of the number of persons unemployed.
Answer: A
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Suppose government spending decreases by $100 billion and the marginal propensity to consume (MPC) is 0.8. Given this information, this decrease in government spending will cause a(n)
A) increase in equilibrium real GDP equal to $500 billion. B) increase in equilibrium real GDP equal to $800 billion. C) decrease in equilibrium real GDP equal to $800 billion. D) decrease in equilibrium real GDP equal to $500 billion.
If the nation's economy were always on its long-run growth path, then unemployment would be equal to
A) the natural rate of unemployment. B) frictional unemployment. C) cyclical unemployment. D) structural unemployment.
If input prices increase, the supply curve for cheese will shift to the right
a. True b. False Indicate whether the statement is true or false
In the following regression equation, y is a binary variable:
y = 
0+1x1+…kxk+ u
In this case, the estimated slope coefficient,
measures _____.
A. the predicted change in the value of y when x1 increases by one unit, everything else remaining constant
B. the predicted change in the value of y when x1 decreases by one unit, everything else remaining constant
C. the predicted change in the probability of success when x1 decreases by one unit, everything else remaining constant
D. the predicted change in the probability of success when x1 increases by one unit, everything else remaining constant