The coefficient of determination measures the proportion of the variation in the independent variable that is "explained" by the regression line
a. true b. false
b
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The Sherman Act prohibits:
a. contracts in restraint of commerce b. monopolization of an industry c. price discrimination d. a and b e. a, b, and c
A professional baseball game is
a. rival and exclusive, and therefore is a public good b. rival and exclusive, and therefore is a private good c. exclusive, but since it is nonrival, it is a public good d. nonrival and nonexclusive, and therefore is a public good e. nonrival and nonexclusive, and therefore is a private good
Examples of monopolistically competitive markets include the markets for
a. restaurants and furniture. b. wheat and corn. c. postage stamps and wooden pencils. d. All of the above are correct.
Refer to the above figure. Suppose the economy is in long-run equilibrium at point A, and the government initiates an expansionary monetary policy to increase aggregate demand. Which of the following is a TRUE statement concerning the differences between what happens when the central bank action is unanticipated and when it is anticipated?
A. The new long-run equilibrium is point C in either case. When the increase in aggregate demand is unanticipated, the new short-run equilibrium is point B, but when the increase in aggregate demand is anticipated the new short-run equilibrium is point D. B. The new long-run equilibrium when the increase in aggregate demand is unanticipated is point B while the new long-run equilibrium when the increase in aggregate demand is anticipated is point A. C. The new long-run equilibrium will be point C in either case. When the increase in aggregate demand is unanticipated, the economy moves to B in the short run, but when the increase in aggregate demand is anticipated, short-run aggregate supply shifts when the aggregate demand curve shifts, and the economy moves immediately to point C. D. The new long-run equilibrium when the increase in aggregate demand is unanticipated is point B while the new long-run equilibrium when the increase in aggregate demand is anticipated is point C.