The OLS residuals
A) can be calculated using the errors from the regression function.
B) can be calculated by subtracting the fitted values from the actual values.
C) are unknown since we do not know the population regression function.
D) should not be used in practice since they indicate that your regression does not run through all your observations.
Answer: B) can be calculated by subtracting the fitted values from the actual values.
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Use Figure 9-6 to answer questions a-i
a. Following the imposition of the tariff, what is the price that domestic consumers must now pay and what is the quantity purchased? b. Calculate the value of consumer surplus with the tariff in place. c. What is the quantity supplied by domestic sugar producers with the tariff in place? d. Calculate the value of producer surplus received by U.S. sugar producers with the tariff in place. e. What is the quantity of sugar imported with the tariff in place? f. What is the amount of tariff revenue collected by the government? g. The tariff has reduced consumer surplus. Calculate the loss in consumer surplus due to the tariff. h. What portion of the consumer surplus loss is redistributed to domestic producers? To the government? i. Calculate the deadweight loss due to the tariff.
By the theory of intertemporal substitution of labor, a higher current real interest rate ________ the amount of labor ________ at each real wage rate in the current period
A) raises, demanded B) raises, supplied C) lowers, demanded D) lowers, supplied