A forecaster used the regression equationQt = a + bt + c1D1 + c2D2 + c3D3and quarterly sales data for 1996 I - 2013 IV (t = 1, ..., 64) for an appliance manufacturer to obtain the results shown below. Q is quarterly sales, and D1, D2 and D3 are dummy variables for quarters I, II, and III.
What is the estimated intercept of the trend line in the fourth quarter?
A. 0
B. 55
C. 40
D. 70
E. none of the above
Answer: E
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The largest category of state and local government expenditures is
A) public welfare. B) highways. C) education. D) interest on their debt. E) Social Security.
By 1900, what did the National Banking System under the Bank Act of 1863 (and subsequent amendments) help national banks attain?
(a) A majority of banking establishments (b) A majority of banking assets (c) A monopoly issue of paper money (d) All of the above
Empirical evidence indicates that
a. changes in the earth's cloud cover will clearly enhance the warming effects of carbon dioxide. b. the increase in carbon dioxide, over thousands of years, is clearly the cause of global warming. c. if global warming continues for another century, as most models forecast, the sea levels will clearly rise substantially, imposing costs much larger than the cost of preventing the warming. d. the earth has warmed a little more than one degree Fahrenheit in the past century.
In the United States, day-to-day decisions about monetary policy are carried out by
A) the Board of Governors. B) the Chairman of the Board of Governors. C) the Federal Open Market Committee. D) the Open Market desk in New York. E) none of the above