The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; B
B. recessionary; C
C. recessionary; A
D. expansionary; A
Answer: C
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When the coupon rate on newly issued bonds ________ relative to older, outstanding bonds, the market price of the older bond ________
A) increases; rises in the secondary market B) increases; falls in the secondary market C) decreases; falls in the primary market D) decreases; falls in the secondary market
The Gauss-Markov Theorem proves that
A) the OLS estimator is t distributed. B) the OLS estimator has the smallest mean square error. C) the OLS estimator is unbiased. D) with homoskedastic errors, the OLS estimator has the smallest variance in the class of linear and unbiased estimators, conditional on X1,…, Xn.
The percentage of work time lost due to strikes in the United States has been increasing over time
a. True b. False Indicate whether the statement is true or false
In 2014 , the U.S. GDP accounts for ________ of world output
A) 20% B) 23% C) 45% D) 50%