A sum of money received at a future date
a. is worth less than the same sum of money received today.
b. is worth more than the same sum of money received today.
c. has the same value as the same sum of money received today.
d. is worth less than the same sum of money received yesterday.
a
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One criticism of the unemployment rate is that it
A) is a stock measure. B) does not include people who are not working and are not looking for work. C) does not include the number of discouraged workers as unemployed. D) counts a new entrant that is actively seeking work as unemployed.
Unanticipated inflation always benefits somebody, so the overall cost cannot be higher than it is for anticipated inflation. Comment
What will be an ideal response?
Statistical inference was a concept that was not too difficult to understand when using cross-sectional data
For example, it is obvious that a population mean is not the same as a sample mean (take weight of students at your college/university as an example). With a bit of thought, it also became clear that the sample mean had a distribution. This meant that there was uncertainty regarding the population mean given the sample information, and that you had to consider confidence intervals when making statements about the population mean. The same concept carried over into the two-dimensional analysis of a simple regression: knowing the height-weight relationship for a sample of students, for example, allowed you to make statements about the population height-weight relationship. In other words, it was easy to understand the relationship between a sample and a population in cross-sections. But what about time-series? Why should you be allowed to make statistical inference about some population, given a sample at hand (using quarterly data from 1962-2010, for example)? Write an essay explaining the relationship between a sample and a population when using time series. What will be an ideal response?
When firms enter a monopolistically competitive industry, the demand curves of the remaining firms in the industry
A. shift to the left. B. shift to the right. C. shift upward. D. do not change.