Refer to the above table. What are total variable costs at an output of 2 units?
A. $100
B. $200
C. $150
D. $50
Answer: D
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On October 6, 1979, the Federal Reserve abandoned the strategy of targeting the Federal funds rate and focused on target ranges for growth in the monetary aggregates. Since that time, the Federal Reserve
a. has never deviated from that strategy. b. gave up on interest rate targeting. c. deviated from target ranges for growth in the monetary aggregates when inflation and unemployment were high. d. None of the above
The additional benefit received as a result of undertaking an action is: a. the opportunity cost. b. the marginal cost
c. the marginal benefit. d. the total benefit.
The value of intermediate goods is not included in the calculation of GDP to avoid the problem of
a. depreciation. b. inflation. c. double counting. d. transfer payments.
Your textbook plots the estimated regression function produced by the probit regression of deny on P/I ratio The estimated probit regression function has a stretched "S" shape given that the coefficient on the P/I ratio is positive. Consider a probit regression function with a negative coefficient. The shape would
A) resemble an inverted "S" shape (for low values of X, the predicted probability of Y would approach 1) B) not exist since probabilities cannot be negative C) remain the "S" shape as with a positive slope coefficient D) would have to be estimated with a logit function