Lack of investment in strong education and health care systems
A) causes a deterioration in human capital and a decline in labor productivity.
B) causes a deterioration in human capital and an increase in physical capital.
C) causes a decline in physical capital and a decline in labor productivity.
D) increases human capital and cause a decline in labor productivity.
A
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The multiplier means that an increase in investment results in ________ aggregate expenditure that is ________ the increase in investment
A) increased; the same size as B) increased; smaller than C) decreased; larger than D) decreased; smaller than E) increased; larger than
Which of the following statements is true?
A. In large samples there are not many discrepancies between the outcomes of the F test and the LM test. B. Degrees of freedom of the unrestricted model are necessary for using the LM test. C. The LM test can be used to test hypotheses with single restrictions only and provides inefficient results for multiple restrictions. D. The LM statistic is derived on the basis of the normality assumption.