The price elasticity of demand for a printer is estimated to be 1 . This means that an increase in price by 10% will
a. Increase quantity demanded by 10%
b. Decrease quantity demanded by 10%
c. Increase demand by 10%
d. Decrease demand by 10%
b
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Suppose the variable 
has been omitted from the following regression equation, 
is the estimator obtained when
src="@@PLUGINFILE@@/ppg__cognero__Ch_03_Multiple_Regression_Analysis_Estimation__media__70014c5f-f839-4657-b538-a779591b542f.PNG" style="vertical-align:-9px;" height="25px" width="17px" /> is omitted from the equation. If 
is said to _____.
A. have an upward bias
B. have a downward bias
C. be unbiased
D. be biased toward zero
Exhibit 9-1 GDP and consumption data GDP Consumption Aggregate Expenditures Unplanned inventory $0 $0.5 1 1.0 2 1.5 3 2.0 4 2.5 5 3.0 6 3.5 7 4.0 8 4.5 As shown in Exhibit 9-1, if equilibrium GDP is $5 trillion, then the total of investment, government spending, and net exports is:
A. $1 trillion. B. $2 trillion. C. $3 trillion. D. $4 trillion.
Describe weaknesses of the IS-LM-FE model.
What will be an ideal response?
Total debt is more important in figuring out the ability of a country to service its debt than are debt to GDP and debt to export ratios
Indicate whether the statement is true or false