The guidelines for whether or not to include an additional variable include all of the following, with the exception of
A) providing "full disclosure" representative tabulations of the results.
B) testing whether additional questionable variables have nonzero coefficients.
C) determining whether it can be measured in the population of interest.
D) being specific about the coefficient or coefficients of interest.
Answer: C
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When there is a recessionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; decline B. increase; raise; decline C. decline; lower; expand D. decline; raise; decline
Japan's protection of its semiconductor (RAM) producers is today seen as an object lesson in
A) how strategic planning may backfire and cause a large waste of resources. B) how externalities may be successfully exploited by protectionist policies. C) how excess returns may be successfully exploited by protectionist policies. D) how government intervention may create a meaningful comparative advantage. E) how monopolies can outlast government intervention.
Why is the Social Security system in crisis at a time when it's running large surpluses? What's the source of the problem? What solutions have been proposed?
What will be an ideal response?
The idea of policy making being undertaken as a response to a change in the economy is referred to as
A) active policy making. B) non-discretionary policy making. C) passive policy making. D) Keynesianism.