The Federal Reserve System first began operations in:
A. 1865.
B. 1914.
C. 1789.
D. 1934
Answer: B
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According to this Application, the bias in the CPI would be ________ if new goods are ________ incorporated in CPI calculations
A) smaller; slowly B) smaller; quickly C) negligible; slowly D) greater; immediately
The OLS estimators of the coefficients in multiple regression will have omitted variable bias
A) only if an omitted determinant of Yi is a continuous variable. B) if an omitted variable is correlated with at least one of the regressors, even though it is not a determinant of the dependent variable. C) only if the omitted variable is not normally distributed. D) if an omitted determinant of Yi is correlated with at least one of the regressors.
Which of the following is the free market economist Adam Smith no know for?
(A) The Wealth of Nations (B) The concept of the invisible hand. (C) Explaining the idea of laissez faire. (D) The circular flow model of a mixed economy.
Refer to the below graph. It shows the supply curve for a product before tax (S0) and after an excise tax is imposed (S1). If 500 units of the product are sold after the tax is imposed, the amount of tax revenue going to the government is:
A. $125
B. $250
C. $375
D. $500