A price ceiling set above the equilibrium price causes quantity demanded to exceed quantity supplied
a. True
b. False
Indicate whether the statement is true or false
False
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Under the gold standard
A) a perpetual surplus is possible. B) a perpetual deficit is possible. C) a perpetual surplus is impossible, but a perpetual deficit is possible. D) a perpetual deficit is impossible, but a perpetual surplus is possible. E) a perpetual surplus is impossible.
On average, countries that have a larger degree of economic freedom tend to have
a. higher per capita income levels, but slower rates of economic growth, than countries with less economic freedom. b. lower per capita income levels, but more rapid rates of economic growth, than countries with less economic freedom. c. both higher per capita income levels and more rapid growth rates than countries with less economic freedom. d. both lower income levels and slower growth rates than countries with less economic freedom.
Which of the statements best describes why the aggregate demand curve is downward sloping?
a. As the aggregate price level increases, consumer expectations about the future change. b. As the aggregate price level decreases, the stock of existing physical capital increases. c. An increase in the aggregate price level causes consumer and investment spending to fall, because consumer purchasing power decreases and money demand increases. e. As a good's price increases, holding all else constant, the good's quantity demanded decreases.
The estimator obtained through regression on quasi-demeaned data is called the _____.
A. random effects estimator B. fixed effects estimator C. hetroskedasticity-robust OLS estimator D. instrumental variables estimator