Changes in nominal GDP always reflect changes in real output
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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________ may cause a shift of the long-run aggregate supply curve
A) A major earthquake B) A change in expected inflation C) A price shock D) all of the above E) none of the above
Economics
Instrument relevance
A) means that the instrument is one of the determinants of the dependent variable. B) is the same as instrument exogeneity. C) means that some of the variance in the regressor is related to variation in the instrument. D) is not possible since X and u are correlated and Z and u are not correlated.
Economics