If adopted by a firm, a labor-augmenting piece of technology is one that would:

It is advisable to use clustered standard errors in panel regressions because

A) without clustered standard errors, the OLS estimator is biased B) hypothesis testing can proceed in a standard way even if there are few entities (n is small) C) they are easier to calculate than homoskedasticity-only standard errors D) the fixed effects estimator is asymptotically normally distributed when n is large

National income is defined as

A) gross national product plus transfer payments. B) gross national product less retained earnings plus transfer payments. C) gross domestic product less retained earnings plus transfer payments. D) gross domestic product less the consumption of fixed capital.