The use of quarterly data to develop the forecasting model Yt = a +bYt?1 is an example of which forecasting technique?
a. Barometric forecasting
b. Time-series forecasting
c. Survey and opinion
d. Econometric methods based on an understanding of the underlying economic variables involved
e. Input-output analysis
b
Economics
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At the XYZ Co, a unit of capital costs three times as much as a unit of labor. If the isoquants are convex, and the firm does not change its input mix in the long run, we can conclude that
A) MPK = 3 ? MPL . B) the firm will not hire any capital. C) the firm will hire 3 times as much labor as capital. D) the firm will hire 3 times as much capital as labor.
Economics
A buyer's response to a change in income is an example of a "change in demand."
a. True b. False Indicate whether the statement is true or false
Economics