B. Structural unemployment.
A. Frictionally unemployed
B. Structurally unemployed
C. Cyclical unemployed
D. Seasonally unemployed
B. Structurally unemployed
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With heteroskedastic errors, the weighted least squares estimator is BLUE. You should use OLS with heteroskedasticity-robust standard errors because
A) this method is simpler. B) the exact form of the conditional variance is rarely known. C) the Gauss-Markov theorem holds. D) your spreadsheet program does not have a command for weighted least squares.
"Currency" is a more encompassing term than "money" to denote acceptable mediums of exchange
Indicate whether the statement is true or false
In 2011, the 20 percent of families with the lowest incomes paid an average federal tax rate (on all federal taxes) of about ________, whereas the 20 percent of families with the highest incomes paid an average tax rate of about ________.
A. 8.4 percent; 29 percent B. 10.3 percent; 30.9 percent C. 4.0 percent; 35 percent D. 1.9 percent; 23.4 percent
The marginal product of labor
A. decreases as more capital is added to the production process. B. declines as more labor is added to the production process. C. equals the output produced per unit of labor employed. D. depends on the product price.