During 1980-2009, the per-capita incomes of less developed countries (LDCs)
What will be an ideal response?
registered a mixed growth record; some grew rapidly while others stagnated.
You might also like to view...
When constructing economic models, economists are more concerned with
A) what people say than what they do. B) what people think than what they say. C) what people do than what they say. D) what people say than what they do or think.
Automatic stabilizers in the economy include which of the following?
i. A progressive personal income tax. ii. Unemployment benefit/allowance. iii. Government action that increases tax rates. (a) i only. (b) i, ii and iii. (c) iii only. (d) i and ii only.
What would happen if you decreased the price to $2 and decreased the quantity supplied to 4,000 pounds?
a. You would create a shortage.
b. You would maintain the same surplus.
c. You would reach equilibrium.
d. You would reduce the surplus.
If an analyst believes that more than one explanatory variable explains the variation in the dependent variable, what model should be used?
A. a simple linear regression model B. a log-linear model C. a nonlinear regression model D. a multiple regression model