Which of the following would be classified as a consumer nondurable?
a. New clothing
b. A new central heating system
c. A new car
d. A new bedroom suite
e. A new riding mower
A
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If the absolute value of your calculated t-statistic exceeds the critical value from the standard normal distribution, you can
A) reject the null hypothesis. B) safely assume that your regression results are significant. C) reject the assumption that the error terms are homoskedastic. D) conclude that most of the actual values are very close to the regression line.
The __________________ traces the flow of money, resources, and goods and services through the economy.
Fill in the blank(s) with the appropriate word(s).
A good for which demand decreases when income decreases is known as a(n) ________ good.
A. normal B. inferior C. complementary D. substitute
Suppose that the U.S. dollar-pound sterling spot exchange rate equals $1.60/£, while the 360-day forward rate is $1.64/£. The yield on a one-year U.S. treasury bill is 9 percent and that on a one-year UK treasury bill is 8 percent. Calculate the covered interest differential in favor of London. On the basis of this result, which country would you expect to have capital inflows and which to have capital outflows?
What will be an ideal response?