The average treatment effect measures _____.
A. the effect of a policy or program on the dependent variable
B. the effect of unobserved factors on observed explanatory variables
C. the effect of a change in an explanatory variable on other explanatory variables
D. the effect of unobserved factors on the average outcome of the dependent variable
Answer: A
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The monetary base will increase if
A) currency outstanding decreases. B) loans by the Fed to commercial banks decrease. C) bank reserves increase. D) vault cash in banks increases.
You paid $25 for your ticket to the football game, only to see your favorite team losing 28-0 at the end of the first quarter. That $25 should now be regarded as a(n) ____ cost that should be ____ in your decision on whether or not to stay at the game.
Fill in the blank(s) with the appropriate word(s)
Suppose the saving rate is initially greater than the golden rule saving rate. We know with certainty that an increase in the saving rate will cause
A) an increase in the rate of growth in the long run. B) a reduction in output per worker. C) a reduction in consumption per worker. D) all of the above E) none of the above
If the government places a $1 tax on an item for which demand is perfectly elastic
A. the tax will be split equally between the consumer and producer, with each paying exactly $0.5. B. most of the tax will be paid by the consumer. C. the entire tax will be paid by the producer. D. the entire tax will be paid by the consumer.