An increase in the supply of corn in Brazil will
A. shift the supply curve of US corn to the right.
B. shift the supply curve of US corn to the left.
C. shift the demand curve for US corn to the right.
D. shift the demand curve for US corn to the left.
Ans: D. shift the demand curve for US corn to the left.
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Infeasible GLS
A) requires too much memory even for today's PCs. B) uses complicated interative techniques. C) cannot be calculated since it also uses quasi differences for Xt. D) assumes the parameters of the error autocorrelation process to be known.
Suppose losses cause industry X to contract and, as a result, the prices of relevant inputs decline. Industry X is:
A. a constant-cost industry. B. a decreasing-cost industry. C. an increasing-cost industry. D. encountering X-inefficiency.