The most important influence on a firm's demand for a factor of production is __________.
Fill in the blank(s) with the appropriate word(s).
the demand for the final product
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One of the reasons the pound depreciated in 1992 was:
A) because Britain was running out of stock of foreign currency reserves. B) because Britain started exporting more than it imported C) because Britain started importing more than it exported. D) because speculative trading had decreased in foreign exchange markets.
When there are omitted variables in the regression, which are determinants of the dependent variable, then
A) you cannot measure the effect of the omitted variable, but the estimator of your included variable(s) is (are) unaffected. B) this has no effect on the estimator of your included variable because the other variable is not included. C) this will always bias the OLS estimator of the included variable. D) the OLS estimator is biased if the omitted variable is correlated with the included variable.