The aggregate supply curve shows
A) the total of all planned production for an economy.
B) that real GDP can only increase when the price level increases.
C) what an economy can produce if resource prices are constant.
D) the various quantities of goods consumers will purchase.
A
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Which is NOT true about the coefficient of determination?
a. As you add more variables, the R-square generally rises. b. As you add more variables, the adjusted R-square can fall. c. If the R-square is above 50%, the regression is considered significant. d. The R-square gives the percent of the variation in the dependent variable that is explained by the independent variables. e. The higher is the R-square, the better is the fit.
Suppose that quantity demand rises by 10% as a result of a 15% decrease in price. The price elasticity of demand for this good is
a. inelastic and equal to 0.67. b. elastic and equal to 0.67. c. inelastic and equal to 1.50. d. elastic and equal to 1.50.