GLS is consistent and BLUE if
A) X is predetermined.
B) the error process is AR(1).
C) X is strictly exogenous.
D) all the roots are inside the unit circle.
Answer: C
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Which of the following would likely take the longest time to enact?
A) Federal government fiscal policy that strives for a balanced budget B) The Fed's lowering of the discount rate C) The Fed's raising of the discount rate D) The Fed's engagement in open market operations
In a competitive market,
a. no single buyer or seller can influence the price of the product. b. there are only a small number of sellers. c. the goods offered by the different sellers are unique. d. accounting profit is driven to zero as firms freely enter and exit the market.
The accompanying figure shows Becky's daily production possibilities curve for dresses and skirts.
Point U is:
A. efficient. B. attainable. C. inefficient. D. unattainable.
Part of the controversy about Fed independence include(s)
A. the goal to bring all macroeconomic policy under the direct control of the president. B. the appropriate role of the Fed in policy making. C. how to make the Fed more powerful than other central banks. D. All of the above are correct.