Which of the following would be classified as private investment?
a. An individual's purchase of a used car
b. A family's purchase of groceries
c. An individual's purchase of a General Electric bond
d. A family's purchase of a newly built home
e. A family's purchase of a new car
D
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Price ceilings often generate
A) market clearing prices. B) rapid increases in supply to meet the excess demand. C) equilibriums that utilize rationing by price. D) black markets.
The GLS estimator
A) is always the more efficient estimator when compared to OLS. B) is the OLS estimator of the coefficients in a transformed model, where the errors of the transformed model satisfy the Gauss-Markov conditions. C) cannot handle binary variables, since some of the transformations require division by one of the regressors. D) produces identical estimates for the coefficients, but different standard errors.