The major distinction between the experiments and quasi-experiments chapter and earlier chapters is the
A) frequent use of binary variables.
B) type of data analyzed and the special opportunities and challenges posed when analyzing experiments and quasi-experiments.
C) superiority of TSLS over OLS.
D) use of heteroskedasticity-robust standard errors.
Answer: B) type of data analyzed and the special opportunities and challenges posed when analyzing experiments and quasi-experiments.
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When interpreting the Ed value as either elastic or inelastic, we look at the
A. percent change in price. B. Ed coefficient with its negative sign. C. absolute value of the Ed coefficient (dropping the negative sign). D. percent change in quantity.
Money income is
A) market income plus cash payments from government. B) equal to market income. C) market income plus cash payments from government minus taxes. D) market income minus taxes.
Five possibilities are equally likely and have payoffs of $2, $4, $6, $8, and $10 . The expected value is:
a. $4 b. $5 c. $6 d. $7
Assume that the government increases spending and finances the expenditures by borrowing in the domestic capital markets. If the nation has low mobility international capital markets and a flexible exchange rate system, what happens to the GDP Price Index and current international transactions in the context of the Three-Sector-Model?
a. The GDP Price Index falls, and current international transactions become more negative (or less positive). b. The GDP Price Index rises, and current international transactions become more negative (or less positive). c. The GDP Price Index and current international transactions remain the same. d. The GDP Price Index rises, and current international transactions remains the same. e. There is not enough information to determine what happens to these two macroeconomic variables.