Which of the following is excluded from calculations of GDP?
A. The value of lawn mowing provided by a teenager for his own family.
B. Goods that bring little value to society.
C. Income received by managers of corporations.
D. Goods that are produced and sold during the time period.
Answer: A
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If a monopolist has downward sloping average costs, he will not produce if he cannot price discriminate.
Answer the following statement true (T) or false (F)
Explain the effect of a usury law.
What will be an ideal response?
In the bond market, the bond demanders are the ________ and the bond suppliers are the ________
A) lenders; borrowers B) lenders; advancers C) borrowers; lenders D) borrowers; advancers
Which of the following statements is true?
A. White test can be used to efficiently determine the presence of serial correlation in panel data. B. The t statistic is not an efficient test to determine serial correlation in panel data. C. Instrumental variables for both endogenous and exogenous variables are required for estimating simultaneous equation models concerned with panel data. D. 2SLS should be applied to simultaneous equation models with panel data only after removing the unobserved effects from the equations of interest.