The _____ model is designed to model corner solution dependent variables.
A. linear probability
B. logit
C. probit
D. Tobit
Answer: D
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Use the following graph of the demand for pasta to answer the question below.
Refer to the three demand curves for pasta and assume that pasta is an inferior good. Which of the following would shift the demand for pasta from D1 to D3?
A. an increase in the price of pasta B. a decrease in consumer incomes C. an increase in consumer incomes D. a decrease in the price of pasta
The statement "A tax cut would be the fairest way to stimulate the economy" is an example of positive economic analysis
a. True b. False Indicate whether the statement is true or false
A market is not a pure monopoly if firms
a. can enter it freely. b. sell unique products. c. can exit the market freely. d. require government permission to sell in the market.
If you take $500 out of a savings deposit and put it into a checking account, the immediate effect (do not consider the money multiplier):
a. M1 rises, M2 remains the same, and the monetary base remains the same. b. M1 falls, M2 falls, and the monetary base remains the same. c. M1 rises, M2 rises, and the monetary base remains the same. d. M1, M2, and the monetary base rise. e. M1, M2, and the monetary base remain the same.