The confidence interval for the sample regression function slope
A) can be used to conduct a test about a hypothesized population regression function slope.
B) can be used to compare the value of the slope relative to that of the intercept.
C) adds and subtracts 1.96 from the slope.
D) allows you to make statements about the economic importance of your estimate.
Answer: A
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If a town has a monopsony, this means
a. there is only one employer b. price discrimination takes place c. goods are priced too high d. no unions can exist e. excess profits are being made
Refer to Figure 36.5 for the dollar-euro foreign exchange market with the market exchange rate at P1. The European Union (EU) and U.S. governments have agreed on a fixed exchange rate of P2. This situation
A. Causes an excess demand for euros. B. Requires that the EU buy U.S. dollars. C. Causes a balance-of-payments deficit for the EU. D. Calls for an expansionary fiscal policy in the EU.
The process of an economy adjusting from a recession back to potential GDP in the long run without any government intervention is known as
A) monetary policy. B) an automatic mechanism. C) "releasing sticky prices." D) fiscal policy.