When comparing the autonomous expenditure multiplier in a closed-economy model to the autonomous expenditure multiplier in an open-economy model it can be concluded that
a. the multiplier in the open-economy model will be larger than in the closed-economy model.
b. the multiplier in the open-economy model will be smaller than in the closed-economy model.
c. both multipliers are the same.
d. None of the above.
B
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Using the above figure, during which of the following periods does the price of crude oil shows an upward trend?
A) May to November B) May to July and October to December C) July to October D) April to November
Which of the following cannot be determined on the basis of the above regression results?
A) the degree of price elasticity of good B B) whether or not good A is "normal" C) the degree of competition between A and B D) All of the above can be determined.
Suppose that as the price of apples rises, people switch from eating apples to eating oranges. This is known as:
A. a decrease in the demand for apples. B. the normal effect of a price change. C. the income effect of a price change. D. the substitution effect of a price change.
A test for heteroskedasticty can be significant if _____.?
A. ?the Breusch-Pagan test results in a large p-value B. ?the White test results in a large p-value C. ?the functional form of the regression model is misspecified D. the regression model includes too many independent variables