Incrementalism describes the notion that _____
a. an agency's budget increases a small amount each year
b. only one or two new programs are added to the budget every year
c. government employees should only receive a cost-of-living adjustment annually
d. government is slow to act because it is politically difficult to do so
a
Economics
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In the multiple regression model, the least squares estimator is derived by
A) minimizing the sum of squared prediction mistakes. B) setting the sum of squared errors equal to zero. C) minimizing the absolute difference of the residuals. D) forcing the smallest distance between the actual and fitted values.
Economics
The natural rate hypothesis implies that the long-run Phillips curve will be:
a. downward-sloping. b. upward-sloping. c. vertical. d. horizontal.
Economics