Economic income is equal to consumption plus changes in net worth.
Answer the following statement true (T) or false (F)
True
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If the functional form of the conditional variance function is incorrect, then
A) the standard errors computed by WLS regression routines are invalid B) the OLS estimator is biased C) instrumental variable techniques have to be used D) the regression R2 can no longer be computed
In order from the most to the least competitive market structure is the perfectly competitive, monopolistically competitive, monopolist and then the oligopolistic market structure
a. True b. False Indicate whether the statement is true or false
Economies of scale exist when long-run average total costs ______.
a. fall as output expands b. rise as output expands c. are steady as output expands d. rise regardless of output
Under a system of floating exchange rates, an excess supply for a particular currency will lead to a(n)
A. long-term shortage of that currency. B. appreciation of that currency. C. long-term surplus of that currency. D. depreciation of that currency.