Which of the following is an explanation as to why fluctuations in real GDP have become less volatile in the United States since 1950?
A) The government has become less inclined to intervene to stabilize the economy.
B) Unemployment insurance and other government transfer programs have become more prevalent.
C) The government and the Federal Reserve have decreased regulation and scrutiny of the financial system.
D) Goods manufacturing has become a larger fraction of GDP.
B
You might also like to view...
Refer to Figure 7-3. What is the value of revenue to foreign producers who are granted permission to sell in the U.S. market when there is a quota?
A) $12 million B) $17.25 million C) $20 million D) $44 million
In practice, the most difficult aspect of feasible WLS estimation is
A) knowing the functional form of the conditional variance. B) applying the WLS rather than the OLS formula. C) finding an econometric package that actually calculates WLS. D) applying WLS when you have a log-log functional form.
A teacher curves the final exam such that the top half of students get an A and the bottom half an F (so their grade depends only on relative and not absolute performance). Suppose that there are equal numbers of two groups, the Brainiacs and the Numbskulls. If they both study or they both party, the Brainiacs will get the As but if the Brainiacs party and the Numbskulls study, the Numbskulls will get the As. Suppose further that they both dislike studying and both like good grades. Suppose all students of a type choose the same action (so we can view it as a two-player game). The payoff matrix is Numbskulls Study Party Brainiacs Study 5, 0 5, 2 ? ? Party 2, 5 7, 2 Characterize the Nash equilibrium or equilibria:
A) There is only one equilibrium, in mixed strategies. B) The Brainiacs study and the Numbskulls party. C) There are two: in one, the Brainiacs study and the Numbskulls party, and in the other they do the reverse. D) Both types party.
GDP excludes the value of all these goods and services EXCEPT
What will be an ideal response?