Discuss the concept in econometrics that states, "garbage in . . . garbage out."
What will be an ideal response?
When the data used in an econometric analysis are not carefully screened for errors, there
can be faulty and misleading results that occur. There has been some time expended to
ensure that the data have been "cleaned" properly.
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To encourage invention and innovation, the government provides
A) patents. B) public franchises. C) government licenses. D) natural monopolies. E) easily obtained ownership barriers to entry.
The FDIC handles most bank failures by the purchase and assumption method because
A) the existence of uninsured deposits (over $100,000 ) makes runs and panics possible. B) it allows the FDIC to avoid paying off large deposits when a bank fails. C) most banks have become too big for the FDIC to allow them to fail. D) it allows the FDIC to write checks legally to pay all deposits, even those over $100,000.
A monopoly creates a deadweight loss to society because it produces less output than the socially efficient level
a. True b. False Indicate whether the statement is true or false
If Germany purchased more goods and services abroad than it sold abroad last year, then it had
a. positive net exports which is a trade surplus. b. positive net exports which is a trade deficit. c. negative net exports which is a trade surplus. d. negative net exports which is a trade deficit.