R2 is a statistical measure which
A) determines how important one variable is in explaining the value of another variable.
B) tests the true value of a variable.
C) determines how well an equation can estimate the relationship between one variable and a set of other variables.
D) All of the above
C
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A sharp increase in stock prices makes people much wealthier. If the main effect of this increased wealth is felt on labor supply, what happens to current employment and the real wage rate?
A) Both employment and the real wage rate would increase. B) Both employment and the real wage rate would decrease. C) Employment would increase and the real wage would decrease. D) Employment would decrease and the real wage would increase.
Which of the following is true?
A) All economists agree that the tax multiplier is greater than the government spending multiplier. B) All economists agree that the tax multiplier is smaller than the government spending multiplier. C) There is disagreement among economists regarding the size of the tax multiplier relative to the size of the government spending multiplier. D) In the standard Keynesian textbook analysis, the tax multiplier is greater than the government spending multiplier. E) c and d