Which of the following macroeconomic variables would you exclude from an index of leading economic indicators?
A) Money supply
B) Industrial production
C) Inventory investment
D) Residential investment
B
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If the yen to dollar exchange rate moves from 105 to 115 yen per dollar, then the dollar has ________ and the yen has ________
A) appreciated; appreciated B) appreciated; depreciated C) depreciated; depreciated D) depreciated; appreciated
A Groves mechanism is a procedure for setting the level of a public good that:
A. induces everyone to report their preferences correctly. B. induces everyone to overstate the benefit they receive from a public good. C. induces everyone to understate the benefit they receive from a public good. D. only works if the public good in question is free of externalities.
Extraneous events that are completely unrelated to economic fundamentals are called
A) moonbeams. B) black holes. C) sunspots. D) time warps.
E(ui Xi) = 0 says that
A) dividing the error by the explanatory variable results in a zero (on average). B) the sample regression function residuals are unrelated to the explanatory variable. C) the sample mean of the Xs is much larger than the sample mean of the errors. D) the conditional distribution of the error given the explanatory variable has a zero mean.