The model: Yt =
0 + 1ct + ut, t = 1,2,……., n is an example of a(n):
A. autoregressive conditional heteroskedasticity model.
B. static model.
C. finite distributed lag model.
D. infinite distributed lag model.
Answer: B
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To maximize her utility, Pat should spend all of her money and buy goods in a way that
A) the marginal utility of the last unit of each good is the same. B) the marginal utility per dollar from each good is the same. C) her total expenditure on each good is the same. D) her price elasticity of demand for each good is the same.
Which of the following statements regarding the creation of brand loyalty to create and maintain market power is false?
A) Brand loyalty efforts often focus on creating perceived, as opposed to real, differences among products. B) Brand loyalty can be enhanced by improving the level of service associated with a particular product. C) One study showed that, in the case of competing beers, brand loyalty has relatively little to do with price. D) Brand loyalty is determined primarily by real differences in competing products.
An increase in the price of a good is shown by a:
A. movement up and to the left along the supply curve. B. movement down and to the right along the supply curve. C. movement up and to the right along the supply curve. D. movement down and to the left along the supply curve.
Refer to the information provided in Table 22.3 below to answer the question(s) that follow. Table 22.3
Refer to Table 22.3. The labor force equals
A. 95,000 people. B. 100,000 people. C. 175,000 people. D. 180,000 people.