During the Great Depression, the U.S. was not firmly tied to the world economy
Indicate whether the statement is true or false
False
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List three characteristics of demand curves. Make sure to explain the shape of the curve and the meaning of the vertical and horizontal intercepts
What will be an ideal response?
An unexpected increase in aggregate demand results in a decrease in real wages in the short run
a. True b. False Indicate whether the statement is true or false
In the last two decades, the Consumer Price Index in the U.S. has typically increased by _____ each year
a. more than 5 percent b. less than 2 percent c. 2–4 percent d. 4–8 percent
The manufacturer of Beanie Baby dolls used quarterly price data for 2005 I - 2013 IV (t = 1, ..., 36) and the regression equationPt = a + bt + c1D1t + c2D2t + c3D3tto forecast doll prices in the year 2014. Pt is the quarterly price of dolls, and D1t, D2t, and D3t are dummy variables for quarters I, II, and III, respectively. 
Using the estimated time-series regression, predicted price in the 1st quarter of 2014 is
A. $37.60. B. $45.60. C. $53.60. D. $56.00. E. none of the above