One of the least squares assumptions in the multiple regression model is that you have random variables which are "i.i.d." This stands for
A) initially indeterminate differences.
B) irregularly integrated dichotomies.
C) identically initiated deltas (as in changes).
D) independently and identically distributed.
Answer: D
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Fred the farmer purchased five new tractors at $20,000 each. Fred sold his old tractors to other farmers for $50,000. The net increase in GDP of these transactions was
A) $50,000. B) $100,000. C) $125,000. D) $150,000.
Explain the intuition behind why the aggregate demand curve is downward sloping. Why does an increase in the money supply shift the aggregate demand curve to the right?
What will be an ideal response?
An Australian investor buys a U.S. Treasury bond that has a price of $10,000 . pays 5 percent interest, and matures in a year. Between the purchase date and the maturity date, the exchange rate changes from $1 = AUD 5.0 to $1= AUD 5.2 . What will be the Australian investor's rate of return from the U.S. bond?
a. 4 percent b. 7 percent c. 9.2 percent d. 12 percent e. 25 percent
Which of the following statements about agriculture in the U.S. is correct?
a. Technological improvements typically increase both supply and revenue for individual farmers. b. Technological improvements that increased supply, coupled with inelastic demand for foodstuffs, explain why the number of farmers has decreased dramatically over the last century. c. Because technological improvements increase the supply of a product for which demand is inelastic, an individual farmer would be better off not adopting the new technology. d. All of the above are correct.