Which of the following is most accurate about the economic conditions in the 1920s?
a. The large increases in demand for products generated significant cyclical unemployment.
b. There was a significant decrease in the number of hours worked per week.
c. Agriculture was the leading growth sector of the economy.
d. The net migration pattern was from urban to rural.
b. There was a significant decrease in the number of hours worked per week.
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In the determination of economic growth, political freedom
A) is equally as important as economic freedom. B) contributes little to job growth. C) appears to be less important than economic freedom. D) is more important than economic freedom.
The spread between the interest rates on bonds with default risk and default-free bonds is called the
A) risk premium. B) junk margin. C) bond margin. D) default premium.
Why does the free-rider problem occur in the debt market?
What will be an ideal response?
Errors-in-variables bias
A) is only a problem in small samples. B) arises from error in the measurement of the independent variable. C) becomes larger as the variance in the explanatory variable increases relative to the error variance. D) is particularly severe when the source is an error in the measurement of the dependent variable.