Stagflation occurs when inflation ________ and GDP ________
A) rises; falls B) falls; rises C) falls; falls D) rises; rises
A
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According to the Texas Transportation Institute, the typical U.S. commuter wastes approximately how much time per year due to traffic congestion?
A) 14 hours B) 22 hours C) 47 hours D) 96 hours
Policymakers who wish to discourage businesses that pollute by taxing them:
A. forget that businesses will pass the entire tax onto consumers of their products. B. should place a tax on consumers instead of the producers in order to increase the burden on sellers. C. should place a tax on producers instead of the consumers in order to increase the burden on sellers. D. forget that some of the tax burden will be shared by consumers.
Suppose that the price of chicken rises sharply compared to the price of turkey. In response, consumers buy more turkey and less chicken than they did in the CPI base year. In this situation the CPI will tend to ________ inflation as a result of ________ bias.
A. overstate; quality adjustment B. accurately measure; substitution C. overstate; substitution D. understate; substitution
The term _____ refers to the problem of small sample size.
A. micronumerosity B. multicollinearity C. homoskedasticity D. heteroskedasticity