The short-run macro model is used most often to determine changes in
a. nominal output
b. net output
c. gross output
d. financial output
e. real output.
E
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QN=79 (17817) Table 24-3 The table below pertains to Studious, an economy in which the typical consumer's basket consists of 5 books and 10 calculators.
a. increased from 2006 to 2007 and increased from 2007 to 2008. b. increased from 2006 to 2007 and decreased from 2007 to 2008. c. decreased from 2006 to 2007 and increased from 2007 to 2008. d. decreased from 2006 to 2007 and decreased from 2007 to 2008.
Consider a simple linear regression model, wage = 
+
data-mathml="%3Cmath%20style%3D%22font%2Dfamily%3A%27Times%20New%20Roman%2C%20serif%27%22%20xmlns%3D%22http%3A%2F%2Fwww%2Ew3%2Eorg%2F1998%2FMath%2FMathML%22%3E%3Cmstyle%20mathsize%3D%2215px%22%3E%3Cmsub%3E%3Cmi%3E%26%23946%3B%3C%2Fmi%3E%3Cmn%3E1%3C%2Fmn%3E%3C%2Fmsub%3E%3C%2Fmstyle%3E%3C%2Fmath%3E" src="@@PLUGINFILE@@/ppg__cognero__Ch_02_The_Simple_Regression_Model__media__2178f37b-7097-4048-b5c1-72c13ed8ae28.PNG" style="vertical-align:middle;" />male + u, where male is a binary variable (1 if a person is male, and 0 otherwise). Now suppose that we know being a male means there is a lower probability of attaining higher education, another factor that is also expected to affect wage. Which of the key assumptions made to establish unbiasedness of OLS estimates do not hold? A. Linear in parameters B. Random sampling C. Sample variation in the explanatory variable D. Zero conditional mean
The total earnings of a worker are represented by E = 100 + $10(24 ? L), where E is earnings and L is the number of hours of leisure. How many hours of leisure are consumed if this worker's total earnings are $160?
A. 18 hours B. 10 hours C. 16 hours D. 12 hours
In monopolistically competitive markets,
A) price is greater than it would be in perfect competition. B) price is less than it would be in perfect monopoly. C) quantity is greater than it would be in perfect monopoly. D) All of the above.