Which of the following both reduce net exports?
a. exports rise, imports rise
b. exports rise, imports fall
c. exports fall, imports rise
d. exports fall, imports fall
c
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The real value of money ________ as the price level falls
A) decreases B) remains the same C) increases D) none of the above
The profit-maximizing rule for a perfectly competitive firm when choosing its level of output is to produce where price is equal to marginal cost
The profit-maximizing rule for a firm hiring labor in a perfectly competitive labor market is to hire workers up to the point where the marginal revenue product equal to the market wage. How are these two rules related to one another?
It is advisable to use clustered standard errors in panel regressions because
A) without clustered standard errors, the OLS estimator is biased B) hypothesis testing can proceed in a standard way even if there are few entities (n is small) C) they are easier to calculate than homoskedasticity-only standard errors D) the fixed effects estimator is asymptotically normally distributed when n is large
The notion that equally situated individuals should be taxed equally is referred to as
a. horizontal equity. b. vertical equity. c. the benefits principle. d. the Gini principle.