Fixed cost increases when output rises
a. True
b. False
Indicate whether the statement is true or false
False
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The cross-price demand for capital (relative to the wage) may slope up or down.
Answer the following statement true (T) or false (F)
Which of the following statements is (are) correct? In the classical system,
a. aggregate demand is the primary determinate of the natural rate of output and employment. b. both output and employment are self-adjusting towards the natural rates of output and employment. c. changes in aggregate supply drives changes in output in the short-run and in the long-run. d. only output is self-adjusting to the supply-determined full-employment levels.
Quasi-experiments
A) provide a bridge between the econometric analysis of observational data sets and the statistical ideal of a true randomized controlled experiment. B) are not the same as experiments, and lessons learned from the use of the latter can therefore not be applied to them. C) most often use difference-in-difference estimators, which are quite different from OLS and instrumental variables methods studied in earlier chapters of the book. D) use the same methods as studied in earlier chapters of the book, and hence the interpretation of these methods is the same.
The mortgage is said to be underwater when
A) the value of the house exceeds the value of the mortgage. B) the house is flooded. C) the value of the mortgage exceeds the value of the house. D) none of the above