A surplus is defined as
A) the excess of total expenditures over total revenues.
B) government spending plus transfer payments.
C) the sum of all past borrowing by the government.
D) the excess of total revenues over total expenditures.
D
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If half of all unemployed individuals suddenly gave up looking for work, the unemployment rate would ________ and the labor force participation rate would ________
A) decrease; decrease B) decrease; increase C) increase; decrease D) increase; increase E) There is not enough information to answer this question.
Sample selection bias
A) occurs when a selection process influences the availability of data and that process is related to the dependent variable. B) is only important for finite sample results. C) results in the OLS estimator being biased, although it is still consistent. D) is more important for nonlinear least squares estimation than for OLS.
Over the period 1900-2014, Brazil's rate of economic growth exceeded that of China
a. True b. False Indicate whether the statement is true or false
If there are strong economies of scale and scope, then society
A. can benefit from regulation of a natural monopoly. B. can gain when more firms enter the market. C. can gain when regulators place a price floor on the market. D. should promote the expansion of federally run markets.