Which of the following provides a measure of the overall fit of a regression?
A. The t-statistic and the P-value
B. P-value
C. t-statistic
D. F-statistic
Answer: D
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In the 1960s, many economists and policymakers believed the trade-off between inflation and unemployment was permanent
Indicate whether the statement is true or false
The total amount of income in a society is independent of how income is distributed.
Answer the following statement true (T) or false (F)
Hours of OperationMarginal Cost16212318424530636742
Krystal runs a nail salon and needs to decide how many hours to stay open. Table 2.2 illustrates her marginal costs of staying open for each additional hour. Suppose that we observe Krystal staying open 5 hours and her marginal benefit of staying open per hour is $36. If she is following the marginal principle, Krystal should:
A. stay open 1 more hour. B. stay open 2 more hours. C. stay open 1 fewer hour. D. stay open 2 fewer hours.
If this year the CPI is 110 and last year it was 100, then
a. the cost of the CPI basket of goods and services has increased this year by 110 percent. b. the price level as measured by the CPI has increased by 10 percent. c. the inflation rate for this year has increased by 10 percent over last year's inflation rate. d. All of the above are correct.