To decide whether the slope coefficient indicates a "large" effect of X on Y, you look at the
A) size of the slope coefficient
B) regression R2
C) economic importance implied by the slope coefficient
D) value of the intercept
Answer: A
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To measure productivity in an economy, we compute the actual real GDP and then divide it by
A) the number of years over which it was produced. B) the amount of labor that went into producing it. C) the capital stock in existence at the time. D) the value of the capital stock that was used up in the process of production. E) the natural real GDP in the same period.
The Employment Act of 1946: a. guaranteed full employment
b. allowed the federal government to hire as many people as it could to achieve full employment. c. gave the federal government the power to levy an income tax. d. imposed a responsibility on the federal government to promote maximum employment. e. obligated the federal government to run budget surpluses to achieve full employment.