Economic growth can be shown by ____________________ production possibilities curve.
A. an outward shift of the
B. an inward shift of the
C. a movement from one point to another along the
D. a movement to a point inside the
A. an outward shift of the
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Consider a situation where economic theory suggests that you impose certain restrictions on your estimated multiple regression function
These may involve the equality of parameters, such as the returns to education and on the job training in earnings functions, or the sum of coefficients, such as constant returns to scale in a production function. To test the validity of your restrictions, you have your statistical package calculate the corresponding F-statistic. Find the critical value from the F-distribution at the 5% and 1% level, and comment whether or not you will reject the null hypothesis in each of the following cases. (a) number of observations: 152; number of restrictions: 3; F-statistic: 3.21 (b) number of observations: 1,732; number of restrictions:7; F-statistic: 4.92 (c) number of observations: 63; number of restrictions: 1; F-statistic: 2.47 (d) number of observations: 4,000; number of restrictions: 5; F-statistic: 1.82 (e) Explain why you can use the Fq,? distribution to compute the critical values in (a)-(d). What will be an ideal response?
Real GDP
a. is the current dollar value of all goods produced by the citizens of an economy within a given time. b. measures economic activity and income. c. is used primarily to measure long-run changes rather than short-run fluctuations. d. All of the above are correct.