Suppose that we find that student grades and time spent at parties move in opposite directions. A graph of the relationship between these two variables would curve
A) upward and be linear.
B) upward and may be linear or nonlinear.
C) downward and be linear.
D) downward and may be linear or nonlinear.
D
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The above figure shows a graph of the market for pizzas in a large town. Suppose that concern over dietary habits has led the government to impose a restriction that limits suppliers to produce only 40 pizzas
As a result, for prices greater than $7, the A) supply curve is unchanged. B) supply curve is vertical. C) demand curve becomes vertical. D) demand curve becomes horizontal.
Unit root tests
A) use the standard normal distribution since they are based on the t-statistic. B) cannot use the standard normal distribution for statistical inference. As a result the ADF statistic has its own special table of critical values. C) can use the standard normal distribution only when testing that the level variable is stationary, but not the difference variable. D) can use the standard normal distribution but only if HAC standard errors were computed.