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, the estimation results indicate that price in the ________ quarter is significantly higher than in any other quarter.
A. 1st
B. 2nd
C. 3rd
D. 4th
Answer: D
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Programs that provide goods or services, rather than cash, directly to needy individuals or households are called:
A. social insurance. B. in-kind transfers. C. economic growth. D. conditional cash transfers.
Consumer surplus increases as
a. the market price of a good decreases b. firms exit the market c. fewer consumers purchase a good d. taxes on a good increase e. a good is no longer available for sale
When the U.S. dollar appreciates,
a. U.S. exports rise. b. U.S. imports decline. c. aggregate demand shifts inward. d. aggregate demand shifts outward.
If, at a specific price, quantity demanded is greater than the quantity supplied, then price will
a. increase until the excess supply is eliminated b. decrease until the excess supply is eliminated c. increase until the excess demand is eliminated d. remain unchanged, and quantity demanded will decrease e. decrease, and quantity supplied will increase