Free trade refers to trade between countries
A) that is without shipping costs.
B) that is licensed by both governments.
C) that is without restrictions.
D) of products which are free to low-income consumers.
Answer: C
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Suppose the foreign exchange market is in equilibrium. Then, the U.S. government increases borrowing, causing American interest rates to increase. What will happen to the price of the Japanese yen? Why?
What will be an ideal response?
Which of the following is a reason for using the correlated random effects approach?
A. It provides unbiased and consistent estimators when the idiosyncratic errors are serially correlated. B. It provides unbiased and consistent estimators when the idiosyncratic errors are heteroskedastic. C. It provides a more efficient estimate than the fixed effects approach. D. It provides a way to include time-constant explanatory variables in a fixed effects analysis.