Price ceilings sometimes result in some buyers and sellers purchasing the good at prohibited prices
Indicate whether the statement is true or false
True
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The LM curve represents combinations of income and the interest rate at which
A) money demand equals money supply when the money supply is fixed. B) money supply equals money demand when the money demand is fixed. C) money demand equals money supply when the money supply can vary. D) money supply equals money demand when both the money supply and money demand can vary.
The assumption of "strict exogeneity" in a regression model means that _____.
A. the dependent variable is binary B. all explanatory variables change over time C. the model does not include a lagged dependent variable as a regressor D. the model includes all relevant explanatory variables
Sarah used to be a music teacher at a local school, but got let go last year due to budget cuts. Sarah now works part-time as a waitress while looking for another teaching job. Sarah would be considered:
A. frictionally unemployed. B. structurally unemployed. C. underemployed. D. real-wage unemployed.
If the price of coffee increases from $2.50 per cup to $3.00 per cup and the quantity demanded goes down from 120 cups per week to 115 cups per week, the absolute value of price elasticity of demand in that price range is approximately
A) 0.23. B) 4.35. C) 0.93. D) 2.34.