Which of the following is NOT a common characteristic of a developing country?
A) extensive direct government control of the economy
B) history of low inflation
C) many weak credit institutions
D) "pegged" exchange rates
E) Agricultural commodities make up a large share of its exports.
B
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If MPC = 0.75, a $40 billion decrease in government purchases would have what size effect on the "first round" of induced added consumption? a. It would increase first round consumption by $30 billion
b. It would increase first round consumption by $40 billion. c. It would increase first round consumption by $120 billion. d. None of the above; the first round effect would be a decrease in consumption.
Which of the following statements is true?
A. OLS estimates in censored regression models are consistent estimators of the population coefficients. B. In a truncated regression model, the samples are not included randomly from an underlying population but are based on a given rule. C. In a censored regression model, units in the sample are taken from a particular subset of the population. D. Maximum likelihood estimators are consistent in truncated regression models even if there is nonnormality or heteroskedasticity in the error terms.
The law of increasing costs indicates that the opportunity cost of producing a good:
A. is proportional to the production of the good. B. is constant to the production of the good. C. increases as more of the good is produced. D. decreases as more of the good is produced.
SUMMARY OUTPUTRegression StatisticsMultiple R0.971R-SquareAAdjusted R-SquareBStandard Error30.462Observations51 ANOVA dfSSMSFSignificance FRegressionC747851.57373925.79402.989.89E-31Residual48D927.91 Total50792391.11 CoefficientsStandard Errort StatP-ValueLower 95%Upper 95%InterceptE62.1326.791.60E-301539.661789.51Price of Roses-6.68F-1.411.64E-01-16.162.81Disposable Income (M)9.730.34G1.23E-319.0410.42Determine the intercept coefficient (point E) and whether that estimate is statistically significant at the 5 percent level.
A. 1,664.46 and statistically insignificant since the P-value is less than 5 percent. B. 2.32 and statistically significant since the t-statistic is greater than 2 in absolute value. C. 1,664.46 and statistically significant since the P-value is less than 5 percent. D. 2.32 and statistically insignificant since the t-statistic is less than 2 in absolute value.