A minimum wage policy induces an:
A) excess demand for labor.
B) excess supply of labor.
C) efficient market outcome.
D) elastic labor supply response.
B
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The cross elasticity of demand for blank DVDs and DVD burners is likely to be
A) positive because they are substitutes. B) positive because they are complements. C) negative because they are substitutes. D) negative because they are complements. E) negative because with the advent of digital cameras, film and film cameras are inferior goods.
The lag length in a VAR using the BIC proceeds as follows: Among a set of candidate values of p, the estimated lag length xxxis the value of p
A) For which the BIC exceeds the AIC B) That maximizes BIC(p) C) Cannot be determined here since a VAR is a system of equations, not a single one D) That minimizes BIC(p)