One cost associated with taxes is the: A redistribution of surplus.
A. redistribution of surplus.
B. resulting under consumption.
C. administrative burden.
D. change in relative values.
C. administrative burden.
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According to the classical model
A) long-term unemployment is unavoidable. B) unemployment is a temporary phenomenon. C) unemployment only exists during periods of war. D) the natural rate of unemployment is zero.
Total utility is maximized in the consumption of two goods by equating the:
a. prices of both goods for the last dollar spent on each good. b. marginal utilities of both goods for the last dollar spent on each good. c. ratios of marginal utility to the price of both goods for the last dollar spent on each good. d. marginal utility of one good to the price of the other.
If the marginal net utility of beer is a positive number, the consumer should buy more beer in order to maximize utility
a. True b. False Indicate whether the statement is true or false
Which of the following statements is true?
A. Prais-Winsten and Cochrane-Orcutt transformations are consistent when explanatory variables are not strictly exogenous. B. The SC-robust standard errors cannot be estimated in models with lagged dependent variables. C. The SC-robust standard errors work better after quasi-differencing a time series that is expected to be serially correlated. D. Estimation of SC-robust standard errors is independent of the sample size.