Αποτελέσματα Αναζήτησης
Study with Quizlet and memorize flashcards containing terms like the phases of the business cycle, An economic shock for an economy refers to the general situation where:, If prices are "sticky" in an economy, then the economy will respond to demand shocks primarily through changes in and more.
There are 2 gains from each economic transaction, (1) the price to the seller above her ____________________. (2) The value to the buyer ___________________ above the selling price. (1) Willingness-to-accept. (2) Willingness-to-pay. Consumer Surplus measures the extent to which a consumer benefits from participating in a ____________________.
Study with Quizlet and memorize flashcards containing terms like Business Cycle, Expansionary Stage, Peak and more.
ECON 1010 Principles of Macroeconomics . Exam #2 . Section A: Multiple Choice Questions. (40 points; 2 pts each) 1. Employment is the total: A) labor force. B) population of working age. C) number of people actively working. D) number of people not unemployed. 2. To be counted as unemployed, one must:
28 Οκτ 2023 · Note: this study guide presents highlights of the material covered by the exam; it is thorough, but not exhaustive. You are still responsible for reading the chapters. You will not need to memorize many formulas for the exam—focus on the concepts.
Answer: This is not valid. If the econometrician does not control for ln(Y t), then the instrument is not exogenous, since clearly corr( 2 ln(Y t) + u t, ln(Y t)) ≠ 0. If the econometrician does control for ln(Y t), then the instrument is collinear with the controls. Points: 1.5 points for the instrument not being valid
2 Why are resources finite? All countries have resources such as water, minerals, soil, plants, animals and people. However, in any country there is a finite quantity of these resources. This means there is only a limited quantity. Most of the resources cannot be replaced once they have been used up. ACTIVITY 2 CASE STUDY: OPPORTUNITY COST
