Small-denomination certificates of deposits are
A. included in M1 and M2.
B. included in M2 but not M1.
C. included only in M1.
D. included in M1 but not M2.
Answer: B
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The sample covariance between the regressors and the Ordinary Least Square (OLS) residuals is always positive.
Answer the following statement true (T) or false (F)
An increase in government spending is more likely to lead to higher inflation when
A. real GDP is above potential GDP. B. the business cycle is near the trough. C. the unemployment rate is above the natural rate. D. the economy is in a recession.
The Hatfields and the McCoys both earn $50,000 per year in real terms in the labor market, and both families are able to earn a 5 percent real interest rate on their savings. In the year 2010, both families began to save. The Hatfields saved 8 percent of their income each year; the McCoys saved 10 percent. In 2010, the Hatfields consumed ________ more than the McCoys; in 2011, the Hatfields consumed ________ than the McCoys.
A. $2,000; about $960 less B. $1,000; about $960 less C. $1,000; about $960 more D. $2,000; about $960 more
Using the figure above, if Jack and Jill specialize and gain from trade, then
A) Jack specializes on the production of soda and water. B) Jack specializes in the production of soda. C) Jack produces equal amounts of gallons of water and bottled water. D) Jack specializes in the production of bottled water. E) Jack and Jill produce beyond their PPF.