A distributed lag regression
A) is also called AR(p).
B) can also be used with cross-sectional data.
C) gives estimates of dynamic causal effects.
D) is sometimes referred to as ADL.
Answer: C
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Suppose the typical consumer only purchases food and clothing, and her utility can be expressed as U = F ? C. Currently, food costs $5 per unit and clothing costs $2 per unit. Her income is $70
If the price of food increases to $6, compare the resulting Laspeyres price index with a true cost of living index.
In 1997 a community in a Southeastern state passed a beautification ordinance (law prohibiting the placement of indoor furniture outside of homes, i.e., no couches on the porch). The law represents a conflict between __________ and __________
a. the rich; the poor b. third parties; private property rights c. consumers of goods; producers of goods d. public goods; private goods e. market failure; government failure
Walter used to work as a high school teacher for $40,000 per year but quit in order to start his own painting business. To invest in his painting business, he withdrew $20,000 from his savings, which paid 3 percent interest, and borrowed $30,000 from his uncle, whom he pays 3 percent interest per year. Last year Walter paid $25,000 for supplies and had revenue of $60,000 . Walter asked Tyler the
accountant and Greg the economist to calculate his painting business's costs. a. Tyler says his costs are $25,900, and Greg says his costs are $66,500. b. Tyler says his costs are $25,000 . and Greg says his costs are $65,000. c. Tyler says his costs are $66,500, and Greg says his costs are $66,500. d. Tyler says his costs are $75,000 . and Greg says his costs are $41,500.
Suppose the government increases spending on public education by $700 million and individual spending on private education drops by $700 million. This is an example of
A) incomplete crowding out. B) complete crowding out. C) zero crowding out. D) a and c E) none of the above