From an economic standpoint, if one believes that a group would be better off from a policy change, this implies that _____
a. a majority of the group would be better off because of the change
b. a super-majority of the group would be better off because of the change
c. everyone in the group would be better off because of the change
d. the total effect of the change is positive, even if most individuals are not better off
c
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To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.
The PPF determines
A) all possible outcomes for a given wage. B) the set of feasible outcomes. C) given leisure, how much consumption a household wants. D) the share of consumption in output.
The bond market
a. is a financial market, whereas the stock market is a financial intermediary. b. is a financial intermediary, whereas the stock market is a financial market. c. is a financial market, as is the stock market. d. is a financial intermediary, as is the stock market.
If there is evidence of serial correlation, then FGLS is preferred over OLS because the FGLS estimator is unbiased.
Answer the following statement true (T) or false (F)