According to Edward Denison, the United States has experienced
a. diseconomies of scale.
b. economies of scale.
c. constant returns to scale.
d. None of the above
B
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What is the difference between a money price and a relative price? When the demand and supply model predicts that the price of coffee will rise, is the model predicting that the money price rises or the relative price rises?
What will be an ideal response?
Multiperiod forecasting with multiple predictors
A) is the same as the iterated AR forecast method. B) can use the iterated VAR forecast method. C) will yield superior results when using the multiperiod regression forecast h periods into the future based on p lags of each Yt , rather than the iterated VAR forecast method. D) will always yield superior results using the iterated VAR since it takes all equations into account.