HAC standard errors and clustered standard errors are related as follows:
A) they are the same
B) clustered standard errors are one type of HAC standard error
C) they are the same if the data is differenced
D) clustered standard errors are the square root of HAC standard errors
Answer: B) clustered standard errors are one type of HAC standard error
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Under an emission tax, polluters ________ what price they have to pay to pollute, __________________________ how much pollution will be generated.
A. know; and government knows B. don't know; and government doesn't know C. know; but government doesn't know D. don't know; but government knows
The benefit principle states that_____
a. people who benefit from the rule of law should pay taxes b. people who benefit from Social Security should voter for it c. people who benefit from a government activity should pay for it in proportion to their wealth d. people who benefit from a government activity should be those who pay for it
Keynesians believe
A) in laissez-faire. B) that equilibrium may exist at less than full employment. C) in the use of fiscal policy to stabilize the economy. D) b and c E) all of the above
The convergence hypothesis states that international differences in real GDP per capita tend to _____ over time.
A. diverge B. fluctuate C. remain constant D. narrow