The term "linear" in a multiple linear regression model means that the equation is linear in parameters.
Answer the following statement true (T) or false (F)
True
Rationale: FEEDBACK: The term "linear" in a multiple linear regression model means that the equation is linear in parameters.
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Suppose that households and businesses increase autonomous expenditures, driving output well above potential. Describe, in detail, how monetary policy might react to minimize the increase in inflation
What will be an ideal response?
Nominal GDP targeting ________
A) is consistent with a dual mandate B) has been adopted in more countries than have adopted inflation targeting C) is, compared to inflation targeting, easier both to implement and to explain D) is preferred strongly by "conservative" central bankers
Consider a good with a price elasticity equal to 1 at every point on its demand curve. Which of the following statements is correct?
a. Total revenue always rises exactly in proportion to a drop in the price. b. Total revenue always rises exactly in proportion to a rise in the price. c. Total revenue does not change if the price changes. d. Total revenue drops to zero whenever the price rises. e. Total revenue always doubles if the price drops.
Other things the same, if foreign residents desired to purchase more U.S. wheat
a. the exchange rate and net exports would rise. b. the exchange rate would rise and net exports would be unchanged. c. the exchange rate would fall and net exports would be unchanged. d. the exchange rate would fall and net exports would rise.