Which of the following statements is true?
A. A probit or logit model should be used for corner solution outcomes, and a Poisson regression model should be used for a binary response.
B. A Poisson regression model should be used for corner solution outcomes, and a probit or logit model should be used for a binary response.
C. A probit or logit model should be used for count variables, and a Poisson regression model should be used for a binary response.
D. A Poisson regression model should be used for count variables, and a probit or logit model should be used for a binary response.
Answer: D
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Smokers and loud talkers who ignore the external effects of their actions are being rational in the economic sense
a. True b. False
The aggregate demand curve slopes downward indicating that
a. an increase in the general price level will reduce the aggregate quantity of goods and services demanded. b. an increase in the general price level will increase the aggregate quantity of goods and services demanded. c. a change in the interest rate will alter the aggregate quantity of goods and services demanded. d. consumers substitute between domestic-made and foreign-made goods as their relative prices change.
If the investment accelerator from an increase in government purchases is larger than the crowding-out effect, then
a. the multiplier is probably zero. b. the multiplier is probably equal to one. c. the multiplier is probably greater than one. d. the multiplier is probably less than one.
According to the World View chart in the text, from highest to lowest real GDP per capita, which is correct?
A. United States, Japan, France, Canada, China. B. United States, Canada, Germany, Japan, South Korea. C. United States, China, India, Jordan, Germany, Japan, Russia. D. United States, China, Japan, Germany, Russia.