The employment-to-population ratio is
A) the percentage of the working-age population who are employed.
B) the percentage of the labour force who are unemployed or employed.
C) the percentage of the labour force who are employed.
D) the percentage of the working-age population who are unemployed or employed.
E) none of the above.
A) the percentage of the working-age population who are employed.
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Which of the following helps determine the growth rate of potential GDP?
I. capital accumulation II. technology advances III. growth in the quantity of money A) I B) I and II C) I and III D) I, II and III
Under the least squares assumptions (zero conditional mean for the error term, Xi and Yi being i.i.d., and Xi and ui having finite fourth moments), the OLS estimator for the slope and intercept
A) has an exact normal distribution for n > 15. B) is BLUE. C) has a normal distribution even in small samples. D) is unbiased.
The study of how firms interact in a market is a
a. waste of time b. normative subject c. microeconomic topic d. topic in political science e. macroeconomic topic
According to the law of diminishing returns, what will happen if a population increases with no corresponding increase in other resource inputs?
a. Output per capita will eventually rise sharply b. Output will rise, but by ever smaller amounts. c. Output will eventually cease altogether. d. Workers will become increasingly efficient.