Rent seeking is the term given
a. to an attempt by firms to create a profitable monopoly even though resources may be wasted in the process.
b. to filing a lawsuit, which wastes resources, in the hope of obtaining monetary gain or a strategic market position.
c. to attempts by firms to obtain earnings without contributing to production.
d. All of the above are correct.
d
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If Xt and Yt are cointegrated, then the OLS estimator of the coefficient in the cointegrating regression is
A) BLUE. B) unbiased when using HAC standard errors. C) unbiased even in small samples. D) consistent.
Refer to the above figure. Where are the poorest households represented on the graph?
A) The poorest households are to the left along the horizontal axis. B) The poorest households are to the right along the horizontal axis. C) The poorest households are all along the horizontal axis. D) The poorest households are concentrated in the middle.
If the price of pizza is $10 this year and $15 next year, then 200 pizzas would contribute
A. $2,000 to this year’s GDP and $2,000 to next year’s nominal GDP. B. $3,000 to this year’s nominal GDP and $3,000 to next year’s nominal GDP. C. $2,000 to this year’s nominal GDP and $3,000 to next year’s nominal GDP. D. $3,000 to this year’s GDP and $2,000 to next year’s GDP.
How did the Great Depression affect economists' beliefs about the macroeconomy?
What will be an ideal response?