If the model 
? satisfies the first four Gauss-Markov assumptions, then v has:
A. ?a zero mean and is correlated with only x1.
B. ?a zero mean and is correlated with x1 and x2.
C. ?a zero mean and is correlated with only x2.
D. a ?zero mean and is uncorrelated with x1 and x2.
Answer: D
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The NBER describes a recession as
A) "a decrease in the standard of living for at least one year." B) "a decrease in potential GDP for at least six months." C) "a one year period with increases in the unemployment rate." D) "a period of significant decline in total output, income, employment, and trade, usually lasting from six months to a year." E) "a decrease in real GDP for two successive quarters."
As a result of the increased deficit associated with discretionary fiscal policy, _____
a. both the interest rate and real output fall b. both the interest rate and nominal output rise c. the interest rate falls and real output rises d. the interest rate rises and real output falls e. nominal output rises, real output falls, and the interest rate rises
Suppose the U.S. government imposes a maximum price of $5 per gallon of gasoline, and the current equilibrium price is $3.50 per gallon. This policy represents a:
A. binding price floor. B. non-binding price floor. C. non-binding price ceiling. D. binding price ceiling
A tax on different kinds of fuels based on their carbon content is called a
A. fossil fuel tax. B. BTU tax. C. carbon tax. D. mitigation tax.