The GDP growth rate is report at annualized rate. This means each quarter’s growth rate is ______ and reported as if the economy had the same growth rate for the entire year.
a. divided by 12
b. multiplied by 4
c. divided by 4
d. multiplied by 12
b. multiplied by 4
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What is multicollinearity? In general, how would you know if you had a problem with multicollinearity, and how could you correct it?
What will be an ideal response?
Which of the following is not true concerning consumer surplus?
a. It is qraphically the area under the demand curve and above the market price. b. It does not exist in equilibrium. c. A leftward shift of the supply curve will decrease consumer surplus. d. A rightward shift of the supply curve will increase consumer surplus.
The terms “correlation” and “causation” are synonymous.
Answer the following statement true (T) or false (F)
Which is the most accurate statement?
A. Poverty can easily be wiped out by giving every adult on welfare a minimum wage job. B. The basic cause of poverty is that nearly all of the poor are lazy. C. Within a decade, poverty will no longer be a national problem. D. There is a hard core of millions of poor people who will need public assistance for many years to come.