Which of the following allegedly contributed to the stagflation in the mid-1970s?
A. Appreciation of the dollar.
B. A sharp drop in the prices of farm products.
C. A dramatic increase in oil prices.
D. Rising productivity in manufacturing.
C. A dramatic increase in oil prices.
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Why is it likely that the United States has an absolute advantage in goods and yet it still ends up importing them from other countries?
What will be an ideal response?
In the case of the simple regression model Yi = ?0 + ?1Xi + ui, i = 1, …, n, when X and u are correlated, then
A) the OLS estimator is biased in small samples only. B) OLS and TSLS produce the same estimate. C) X is exogenous. D) the OLS estimator is inconsistent.
What is one of the traditional political uses of tariffs?
a. protection of borders b. protection of vested economic interests c. protection of military secrets d. protection of exchange rates
How could Raymond’s late-night behavior create a negative externality for his roommates?
a. if he practices his clarinet and prevents them from sleeping b. if he stays quietly in his own room and does not come out c. if he cleans the apartment and does their laundry while they sleep d. if he goes online and pays their utility bills and rent for the month