If variables with a multivariate normal distribution have covariances that equal zero, then
A) the correlation will most often be zero, but does not have to be.
B) the variables are independent.
C) you should use the ?2 distribution to calculate probabilities.
D) the marginal distribution of each of the variables is no longer normal.
Ans: B) the variables are independent.
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Which of the following will NOT be true if the antitrust laws are successful?
A) Producers will earn zero economic profits in the long-run. B) Firms will not restrict output. C) Firms will produce the competitive output. D) Firms will produce the quantity at which marginal cost equals marginal revenue and charge a price that is greater than marginal cost.
In the U.S. over the last 50 years:
A. imports have grown and exports have fallen. B. both imports and exports have grown dramatically. C. both imports and exports have fallen dramatically. D. the percent of GDP that represents imports and exports has remained fairly steady.