Supply-side economics
a. was the policy prescriptions President Clinton used to create budget surpluses
b. challenged the views on taxes held by President Bush's (1988–92) chief economic adviser, Arthur Laffer
c. was popularized as Reaganomics during President Reagan's administrations
d. challenged the view that supply creates its own demand
e. advocates crowding out to curb government spending
C
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The AR(p) model
A) is defined as Yt = ?0 + ?pYt-p + ut. B) represents Yt as a linear function of p of its lagged values. C) can be represented as follows: Yt = ?0 + ?1Xt + ?pYt-p + ut. D) can be written as Yt = ?0 + ?1Yt-1 + ut-p.
Which of the following defines a sunk cost?
a. Cost of the next best alternative b. Cost of producing an additional unit c. An asset with no scrap value d. Total cost of producing a product