A permanent marginal tax rate cut would be expected to shift both the short-run and the long-run aggregate supply curves to the right
Indicate whether the statement is true or false
True
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What's a direct long-run effect of imposing rent controls on apartments?
A) A rise in demand for rent controlled apartments B) A fall in demand for rent controlled apartments C) A fall in the supply of rent controlled apartments D) A rise in the supply of rent controlled apartments
When testing joint hypothesis, you should
A) use t-statistics for each hypothesis and reject the null hypothesis is all of the restrictions fail. B) use the F-statistic and reject all the hypothesis if the statistic exceeds the critical value. C) use t-statistics for each hypothesis and reject the null hypothesis once the statistic exceeds the critical value for a single hypothesis. D) use the F-statistics and reject at least one of the hypothesis if the statistic exceeds the critical value.
Infrastructure development is not the problem in LDCs, the overriding issue is the low level of opportunity costs for development activity
Indicate whether the statement is true or false
The theory of purchasing-power parity states that a unit of a country's currency should be able to buy the same quantity of goods in foreign countries as it does in the domestic economy
a. True b. False Indicate whether the statement is true or false