Suppose a basket of goods and services has been selected to calculate the CPI and 2012 has been chosen as the base year. In 2012, the basket's cost was $80.00; in 2013, the basket's cost was $84; and in 2014, the basket's cost was $87.60 . The value of the CPI was
a. 100 in 2012.
b. 105 in 2013.
c. 109.5 in 2014.
d. All of the above are correct.
d
Economics
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If the error term is correlated with any of the independent variables, the OLS estimators are:
A. biased and consistent. B. unbiased and inconsistent. C. biased and inconsistent. D. unbiased and consistent.
Economics
Refer to the following graph. The price of labor is $3 per unit:
How many units of labor should a firm use in order to produce 100 units of output at the least cost?
A. 15 units of labor B. 10 units of labor C. 5 units of labor D. 20 units of labor
Economics