The term "twin deficits" refers to
A) government budget and trade deficits.
B) saving and investment deficits.
C) exports and imports deficits.
D) production and expenditure deficit.
A
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The sample average of the OLS residuals is
A) some positive number since OLS uses squares. B) zero. C) unobservable since the population regression function is unknown. D) dependent on whether the explanatory variable is mostly positive or negative.
Which of the following would most likely increase the price of chicken, a normal good?
a. a reduction in the price of grains used to produce chicken feed b. a reduction in the price of beef, a substitute for chicken c. unusually hot weather that kills millions of chickens before they are ready for market d. a decrease in consumer income
Suppose China can produce 200 TVs or 200 DVD players. South Korea can produce either 100 TVs or 200 DVD players. In terms of TV production, we can conclude that
A. China has an absolute advantage in TV production. B. China has a comparative advantage in TV production. C. South Korea has a comparative advantage in TV production. D. South Korea has an absolute advantage in TV production.
In the United States, the working-age population refers to the:
A. civilian, noninstitutional population aged 16 and over. B. civilian, noninstitutional population of those between age 16 and age 64. C. population of those aged 16 and over. D. noninstitutional population of those between ages 16 and 64.