Nonlinear least squares estimators in general are not
A) consistent.
B) normally distributed in large samples.
C) efficient.
D) used in econometrics.
Answer: C
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Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
Which of the following statements is TRUE about the economic profits earned by a monopolistic competitor firm in the long run?
A) Economic profits can be positive since firms have some degree of monopoly power. B) Economic profits will be positive since the firm has a downward sloping demand curve. C) Economic profits will tend towards zero since positive profits will attract new firms into the industry. D) Economic profits can be negative since there is so much competition in the market.
An increase in tax rates on a product will raise more revenue, the more inelastic is the demand curve
a. True b. False Indicate whether the statement is true or false
Complete the following analogy: A criminal is to a police artist's sketch as the economy is to:
A. money. B. an economic model. C. a resource. D. scarcity.