The estimated slope coefficient (b) of the regression equation (Ln Y = a + b Ln X) measures the ____ change in Y for a one ____ change in X
a. percentage, unit
b. percentage, percent
c. unit, unit
d. unit, percent
e. none of the above
b
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"Every point on a demand curve represents a consumer equilibrium in the indifference curve model." Explain why the previous statement is correct or not
What will be an ideal response?
If prices are rising on average, then
A) real GDP will be less than nominal GDP in the years before the base year. B) real GDP will be greater than nominal GDP in the years after the base year. C) real GDP will always be equal to nominal GDP. D) real GDP will be greater than nominal GDP in the years before the base year.
If, during a deposit expansion, not all money gets redeposited into the banking system and some leaks out as currency, then the real world multiplier is
A) not related to 1/RR. B) smaller than 1/RR. C) equal to 1/RR. D) larger than 1/RR.
Refer to Figure 27-1. Suppose the economy is in short-run equilibrium below potential GDP and Congress and the president lower taxes to move the economy back to long-run equilibrium
Using the static AD-AS model in the figure above, this would be depicted as a movement from A) A to B. B) C to B. C) B to C. D) A to E. E) B to A.