In moving from a shortage toward the market equilibrium, which of the following is true?
a. Quantity supplied decreases.
b. Quantity demanded increases.
c. Price falls.
d. Price rises.
d
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A study based on OLS regressions is internally valid if
A) the errors are homoskedastic, and there are no more than two binary variables present among the regressors. B) you use a two-sided alternative hypothesis, and standard errors are calculated using the heteroskedasticity-robust formula. C) weighted least squares produces similar results, and the t-statistic is normally distributed in large samples. D) the OLS estimator is unbiased and consistent, and the standard errors are computed in a way that makes confidence intervals have the desired confidence level.
An amusement tax of $1 on every ticket sold to a concert is an example of a(n)
a. poll tax b. progressive tax c. unit tax d. income tax e. property tax