A forecaster used the regression equationQt = a + bt + c1D1 + c2D2 + c3D3and quarterly sales data for 1996 I - 2013 IV (t = 1, ..., 64) for an appliance manufacturer to obtain the results shown below. Q is quarterly sales, and D1, D2 and D3 are dummy variables for quarters I, II, and III. 
Using a 5 percent significance level, these estimation results indicate that sales in
A. the first quarter are greater than sales in any other quarter.
B. the second quarter are greater than sales in any other quarter.
C. the third quarter are greater than sales in any other quarter.
D. the fourth quarter are greater than sales in any other quarter.
Answer: C
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Which of the following applies to a real-world socialistic economy?
a. Private ownership of all factors of production. b. Government ownership of all factors of production. c. Government ownership of most of the factors of production. d. Lack of central planning.
What happened to the average person’s standard of living when Great Britain and the United States experienced free trade, low tax rates, low levels of government regulations, and strong protection of private property?
a. The average person’s standard of living did not change. b. The average person’s standard of living increased substantially. c. The average person’s standard of living decreased substantially. d. The average person’s standard of living was not affected by these conditions.
Economists agree that trade ought to be restricted if free trade means that domestic jobs might be lost because of foreign competition
a. True b. False Indicate whether the statement is true or false
If the cyclically adjusted budget shows a deficit of about $200 billion and the actual budget shows a deficit of about $250 billion over a several-year period, it can be concluded that there is a:
A. contractionary fiscal policy. B. cyclical deficit. C. progressive tax system. D. proportional tax system.