Suppose that a multiple regression model of residential housing prices uses four dummy variables. Which of the following is the most likely independent variable?
A. three zip codes
B. the answer can not be determined
C. five neighborhoods
D. four school districts
E. two cities
Answer: C. five neighborhoods
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The unionized percentage of the labor force in the United States has been increasing steadily since the 1950s.
Answer the following statement true (T) or false (F)
What happens when a supply curve shifts right?
What will be an ideal response?
In the four-part diagram used to construct the IS curve, a decrease in the interest rate causes
A) an increase in Ap and induced saving but does not shift the IS curve. B) an increase in Ap and induced saving and shifts the IS curve to the right. C) a decrease in Ap, an increase in induced saving, and shifts the IS curve to the right. D) a decrease in Ap and a decrease in induced saving, but does not shift the IS curve.
When a government spends more than it earns in revenue, we say that it has a:
A. budget surplus. B. budget deficit. C. budget crisis. D. federal debt.