Which of the following statements about government debt is false?
A. Government has the power to tax to finance its debt.
B. Almost half of U.S. government debt is internal to the government.
C. Government can create money to finance its debt.
D. Most U.S. government debt is owned by foreigners.
Answer: D
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The direct relationship between changes in price and changes in quantity supplied is
A) a change in supply. B) shown by a shift in the supply curve. C) the law of supply. D) the law of relative production.
This prisoner's dilemma game shows the payoffs associated with two firms, A and B, in an oligopoly and their choices to either collude with one another or not.
According to the matrix shown, how much will be produced if both firms collude?
A. 85 million units B. 70 million units C. 65 million units D. 50 million units
A forecaster used the regression equationQt = a + bt + c1D1 + c2D2 + c3D3and quarterly sales data for 1996 I - 2013 IV (t = 1, ..., 64) for an appliance manufacturer to obtain the results shown below. Q is quarterly sales, and D1, D2 and D3 are dummy variables for quarters I, II, and III.
At the 5 percent level of significance, is there a statistically significant trend in sales?
A. Yes, because 2.14 > 2.00. B. No, because 1.5 < 2.00. C. No, because 2.14 < 2.66. D. No, because 1.5 < 2.66. E. none of the above
Which of the following statements about a market for used cars is incorrect?
A. The presence of low-quality cars decreases consumers' willingness to pay. B. An increase in price increases the quantity of high-quality cars supplied. C. An increase in price decreases the quantity of low-quality cars supplied. D. The decrease in the quantity of high-quality cars lowers consumers' willingness to pay.