Econometrics can be defined as follows with the exception of
A) the science of testing economic theory.
B) fitting mathematical economic models to real-world data.
C) a set of tools used for forecasting future values of economic variables.
D) measuring the height of economists.
Answer: D
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Suppose Chris is a potter who makes mugs. His total costs depend on the number of mugs he makes each day, as shown in the table below.Number ofMugs Per DayTotal CostPer Day0$101$142$193$254$325$406$49If the market for mugs is perfectly competitive, and mugs sell for $7.50 each, then at his profit-maximizing level of output, Chris will earn a ________ of ________ per day.
A. loss; $10 B. profit; $30 C. loss; $2 D. profit; $2
PSD areas
a. must meet the same standards as do nonattainment areas b. face standards that are necessarily set at an efficient level c. are regions that meet or exceed national ambient air quality standards d. are likely associated with higher MSC than that of nonattainment areas
Assume that the central bank purchases government securities in the open market. If the nation has highly mobile international capital markets and a flexible exchange rate system, what happens to the GDP Price Index and net nonreserve-related international borrowing/lending in the context of the Three-Sector-Model?
a. The GDP Price Index falls, and net nonreserve-related international borrowing/lending becomes more negative (or less positive). b. The GDP Price Index and net nonreserve-related international borrowing/lending remain the same. c. The GDP Price Index falls, and net nonreserve-related international borrowing/lending becomes more positive (or less negative). d. The GDP Price Index rises, and net nonreserve-related international borrowing/lending becomes more negative (or less positive). e. The GDP Price Index rises, and net nonreserve-related international borrowing/lending becomes more positive (or less negative).
There is a 20% chance that you will earn $20,000; a 20% chance that you will earn $40,000; and a 60% chance you will earn $50,000. What are your expected earnings?
What will be an ideal response?