Asymptotic distribution theory is
A) not practically relevant, because we never have an infinite number of observations.
B) only of theoretical interest.
C) of interest because it tells you what the distribution approximately looks like in small samples.
D) the distribution of statistics when the sample size is very large.
Answer: D
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Suppose that your tuition to attend college is $14,000 per year and you spend $5,000 per year on room and board. If you were working full time, you could earn $26,000 per year. What is your opportunity cost of attending college?
A) $19,000 B) $31,000 C) $40,000 D) $45,000
An import quota protects domestic producers by
A) setting a limit on the amount of imports. B) placing a prohibitive tax on imports. C) encouraging competition among domestic producers. D) increasing the total supply of the product.
Licensing requirements for doctors, which are intended primarily to maintain the quality of persons who work in the profession, have no the effect on the profits of those individuals because the number of competitors is so large
Indicate whether the statement is true or false
As interest rates rise, the ____________ curve shifts _____________ resulting in a(n) _________________ in the price level and a(n) ________________ in Real GDP
A) AD; leftward; decrease; decrease B) AD; rightward; increase; increase C) SRAS; rightward; decrease; increase D) SRAS; leftward; increase; decrease