To test the null hypothesis of a unit root, the ADF test
A) has higher power than the so-called DF-GLS test.
B) uses complicated interative techniques.
C) cannot be calculated if the variable is integrated of order two or higher.
D) uses a t-statistic and a special critical value.
Answer: D
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An individual's demand curve for a good is derived by
a. varying the income level and observing the resulting total utility derived from both goods b. varying the price of one good and observing the resulting quantities demanded of the other good c. varying the prices of both goods and observing the changes in quantities demanded of both goods d. shifting the budget line to the left and calculating the loss in total utility e. varying the price of one good and observing the resulting quantities demanded of that good
The largest proportion of M1 is made up of
A) currency. B) checking account deposits. C) traveler's checks. D) savings account deposits.