The condition in which an individual consumer's budget is exhausted and the last dollar spent on each good yields the same marginal utility is called ________ ________
a. marginal utility
b. consumer surplus
c. consumer equilibrium
d. total utility
c
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A increase in net exports
a. shifts the aggregate demand schedule upward b. shifts the aggregate demand schedule downward. c. does not shift the aggregate demand schedule. d. decreases saving.
A multiperiod regression forecast h periods into the future based on an AR(p) is computed
A) the same way as the iterated AR forecast. B) by estimating the multiperiod regression Yt = ?0 + ?1Yt-h + ... + ?pYt-p-h+1 + ut, then using the estimated coefficients to compute the forecast h periods in advance. C) by estimating the multiperiod regression Yt = ?0 + ?1Yt-h + ut , then using the estimate coefficients to compute the forecast h period in advance. D) by first computing the one-period ahead forecast, next using that to compute the two-period ahead forecast, and so forth.