Which of the following is considered a major component of aggregate expenditure?
a. net exports
b. net imports
c. aggregate supply
d. aggregate demand
a. net exports
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Autoregressive distributed lag models include
A) current and lagged values of the error term. B) lags of the dependent variable, and lagged values of additional predictor variables. C) current and lagged values of the residuals. D) lags and leads of the dependent variable.
The budget deficit tends to decline during periods of recession and to increase during periods of economic recovery
a. True b. False Indicate whether the statement is true or false
People who make the arguments that economic growth will deplete natural resources make the same assumption Malthus made about resources. What is that assumption? a. Natural resources will never run out because they are freely available from nature
b. Natural resources cannot be produced, so they are available in fixed quantities. c. That new technology will limit our dependence on natural resources so they won't be depleted. d. That the government will eventually step in to save the natural resources from depletion.
What will happen to a typical isoquant if robots become increasingly good at doing manual and mental labor?
A. Isoquants will become much flatter. B. Isoquants will become much steeper. C. Isoquants will not change but movement will occur upward on the curve. D. Isoquants will become a negatively sloped straight line.