Which of the following has been an effect of globalization and a large trade deficit?
a. Increased wages in the tradable sector.
b. Increased employment in the tradable sector.
c. Decreased employment in the tradable sector.
d. Increased wages in the immigrant sector.
Answer: c. Decreased employment in the tradable sector
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The following are all least squares assumptions with the exception of:
A) The conditional distribution of ui given Xi has a mean of zero. B) The explanatory variable in regression model is normally distributed. C) (Xi, Yi), i = 1,..., n are independently and identically distributed. D) Large outliers are unlikely.
Which of the following will not shift the consumption function?
a. A change in household wealth b. A change in the price level c. A change in household disposable income d. A change in the level of unemployment e. A change in the rate of interest