The aggregate production function takes inputs and turns them into the country's output, or GDP.
Answer the following statement true (T) or false (F)
True
See the definition of aggregate production function.
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The manufacturer of Beanie Baby dolls used quarterly price data for 2005 I - 2013 IV (t = 1, ..., 36) and the regression equationPt = a + bt + c1D1t + c2D2t + c3D3tto forecast doll prices in the year 2014. Pt is the quarterly price of dolls, and D1t, D2t, and D3t are dummy variables for quarters I, II, and III, respectively. 
At the 2 percent level of statistical significance, is there a statistically significant trend in the price of dolls?
A. Yes, because 3.33 > 0.02. B. Yes, because 0.800 > 0.02. C. Yes, because 0.0022 < 0.02. D. No, because 0.0022 > 0.02. E. Yes, because 0.240 > 0.02.
What do a rubbernecking traffic jam and the paradox of thrift have in common?
A. In both cases, individual behavior has large negative consequences for the whole of society. B. In both cases, seemingly bad behavior ends up harming everyone. C. In both cases, seemingly careless behavior leads to good times for all. D. In both cases, government intervention can only make matters worse
The growing federal budget deficit in the 1980s was accompanied by a
A. growing trade surplus. B. growing trade deficit. C. shrinking trade deficit. D. shrinking capital account surplus.
Refer to Scenario 12.1. What is the probability of either Simon, Paula, or both of them trying to rescue the man?
A) 9% B) 49% C) 70% D) 91%