One of the primary advantages of using econometrics over typical results from economic theory, is that
A) it potentially provides you with quantitative answers for a policy problem rather than simply suggesting the direction (positive/negative) of the response.
B) teaching you how to use statistical packages
C) learning how to invert a 4 by 4 matrix.
D) all of the above.
Answer: A
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Refer to Table 9-12. Consider a simple economy that produces only three products: burritos, flashlights, and golf balls. Use the information in the table to calculate the inflation rate for 2016, as measured by the consumer price index
What will be an ideal response?
Reliance on indicators of productivity such as education, experience, and test scores may keep some very good people from getting a job and may result in hiring unproductive people. This is called:
a. worker prejudice. b. statistical discrimination. c. crowding out. d. disparate treatment. e. comparable worth.
Which of the following equals demand in an open economy?
A) C + I + G + X B) C + I + G + X - IM C) C + I + G + IM - X D) C + I + G
Figure 18.1Refer to Figure 18.1. Canada has a comparative advantage in the production of:
A. bicycles. B. hang gliders. C. both bicycles and hang gliders. D. neither bicycles nor hang gliders.