A pooled OLS estimator that is based on the time-demeaned variables is called the _____.
A. random effects estimator
B. fixed effects estimator
C. least absolute deviations estimator
D. instrumental variable estimator
Answer: B
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As more of an activity is undertaken, it is reasonable to assume that
a. the total benefits will decline. b. the marginal benefits will decline. c. the fixed costs will decline. d. the marginal benefits will increase.
Few firms in the United States are monopolies because
A) when a firm earns profits, other firms will enter its market. B) most products that firms produce have substitutes. C) few firms experience economies of scale. D) of antitrust laws.
The circular-flow diagram explains, in general terms, how the economy is organized and how participants in the economy interact with one another
a. True b. False Indicate whether the statement is true or false
Compared to consumption spending, investment historically has tended to be
A. more variable. B. greater. C. stagnant. D. more stable.