The number of times per year, on average, that a dollar is used to purchase final goods and services is the
A. Money magnifier.
B. Velocity of money.
C. Business cycle.
D. Multiplier.
Answer: B
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Which of the following is a factor that determines the shape of the aggregate demand curve?
A) the real-balance effect B) the wage effect C) the nominal-balance effect D) the price level effect
The OLS estimator is derived by
A) connecting the Yi corresponding to the lowest Xi observation with the Yi corresponding to the highest Xi observation. B) making sure that the standard error of the regression equals the standard error of the slope estimator. C) minimizing the sum of absolute residuals. D) minimizing the sum of squared residuals.
If the price of garbage removal rises, people will
A. demand a higher quantity of garbage removal. B. take less waste to recycling centers. C. repair broken items if the cost to do so is higher than throwing them away. D. take actions to avoid paying the higher price.
If taxes fall and foreign income falls, what will happen to output, ceteris paribus?
A) It will rise. B) It will stay the same. C) It will fall. D) It is uncertain what will happen.