Time-series models
A. use dummy variables to control for time trend.
B. cannot be replicated by another researcher.
C. use dummy variables to control for cyclical variation.
D. both a and b
E. both b and c
Answer: C
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If the reserve ratio is 20 percent, then the money multiplier is approximated to be:
A. 20. B. 5. C. 10. D. 2.
In the Standard Oil case, the company was accused of violating the law that prohibits
A. firms from attempting to undercut competitors' prices. B. charging prices that are unfairly too high. C. firms from using their monopoly in one market to increase market share in another. D. firms from successfully achieving monopoly status.
To convert the nominal interest rate to the real interest rate, we
A) divide the nominal interest rate by the inflation rate. B) multiply the nominal interest rate by the inflation rate. C) subtract the inflation rate from the nominal interest rate. D) add the inflation rate to the nominal interest rate. E) subtract the nominal interest rate from the inflation rate and then multiply by 100.
In the sequential version of a game using the same players, the same strategies, and the same possible outcomes as the original game, the equilibrium
A) may be different than in the original game. B) must be different than in the original game. C) will be the same as in the original game. D) is the same as the cooperative version of the original game. E) is the same as the noncooperative version of the original game.