The best price index to use in calculating real GDP is
A. The PPI.
B. The CPI.
C. Any of the indexes because they all reflect price level changes.
D. The GDP deflator.
Answer: D
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Give the economic interpretation of each of the labeled areas: A, B, C, and D.
Use the following graph of the refined petroleum market to answer the questions below.
The above figure shows the Lorenz curve for wealth for the nation of Rusha. What percent of wealth is owned by the wealthiest quintile?
A) 0 percent B) 5 percent C) 40 percent D) 60 percent
Which of the following is NOT a regulation applying to swap dealers as a result of the Dodd-Frank Act?
A) Swaps must be traded through a clearinghouse. B) The value of swap contracts are limited to no more than $8 billion. C) Dealers are required to deposit a fraction of the value of the contract with the clearinghouse. D) Data on trades must be publicly available.
You should use the QLR test for breaks in the regression coefficients, when
A) the Chow F-test has a p value of between 0.05 and 0.10. B) the suspected break data is not known. C) there are breaks in only some, but not all, of the regression coefficients. D) the suspected break data is known.