In econometrics, the general partialling out result is usually called the _____.?
A. ?Gauss-Markov assumption
B. ?Best linear unbiased estimator
C. ?Frisch-Waugh theorem
D. ?Gauss-Markov theorem
Answer: C
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One of the assumptions underlying the production possibilities curve for any given economy is that:
a. the state of technology changes. b. there is an unlimited supply of resources. c. there is full employment of resources when the economy is on the curve. d. goods can be produced outside the curve.
Which of the following is true? a. At the natural rate of unemployment, the economy is considered to be at full employment
b. At full employment, the economy is producing at its potential output. c. If unemployment is greater than its natural rate, the economy is producing at less than its potential output. d. All of the above are true.
According to purchasing-power parity what should the nominal exchange rate between the U.S. and another country be equal to?
a. 1 b. the real exchange rate between the U.S. and that country c. the price level in the U.S. divided by the price level in the other country d. the price level in the other country divided by the price level in the U.S.
If diseconomies of scale are present and the firm ________ all its inputs, its output ________
A) doubles; more than doubles B) doubles; less than doubles C) increases; increases by the same percentage D) halves; doubles