Continued U.S. economic growth requires little institutional and technological change
Indicate whether the statement is true or false
False
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The homoskedastic normal regression assumptions are all of the following with the exception of:
A) the errors are homoskedastic. B) the errors are normally distributed. C) there are no outliers. D) there are at least 10 observations.
Which of the following is FALSE regarding unions?
A) The American Federation of Labor (AFL), composed of craft unions, was formed in 1886 under the leadership of Samuel Gompers. B) For a period after World War I the government temporarily stopped protecting labor's right to organize. C) During the Great Depression, legislation was passed that made collective bargaining illegal. D) The AFL and the CIO merged in 1955.
A budget deficit
A) occurs when government expenditures exceed tax revenues. B) occurs when tax revenues exceed government expenditures. C) occurs when transfer payments exceed tax revenues. D) will always result when Congress and the president cannot agree on expenditures. E) occurs when monetary policy works in the opposite direction of fiscal policy.
Under adaptive expectations, the short-term effect of an unanticipated shift to a more expansionary macroeconomic policy will be a:
A. temporary reduction in the unemployment rate. B. permanent reduction in the unemployment rate. C. temporary reduction in the inflation rate. D. permanent reduction in the inflation rate.