In the simple Keynesian model (no money market) assume that equilibrium output falls short of potential output by 300 units and the MPC = 0.8 . The size of the tax cut needed to reach full employment is

HAC standard errors and clustered standard errors are related as follows:

A) they are the same B) clustered standard errors are one type of HAC standard error C) they are the same if the data is differenced D) clustered standard errors are the square root of HAC standard errors

If price is initially above the equilibrium level,

A) the supply curve will shift rightward. B) the supply curve will shift leftward. C) excess supply exists. D) all firms can sell as much as they want.