Which of the following was true of the U.S. job market between 1929 and 2011?
a. The number of jobs created in the organized sector was less than that in the unorganized sector.
b. The number employed people increased by less than five percent
c. The average education of workers increased over the years.
d. The productivity of workers declined over the years.
e. The growth in employment opportunities was slower compared to the growth in population.
c
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Refer to the above figure for a particular good. The rightward shift of the curve could have been caused by
A) a decrease in the price of an input. B) a decrease in the price of that good. C) an increase in the price of a complementary good. D) an increase in the price of a substitute good.
Consider the following simple regression model y = 
0 + 1x1 + u. Suppose z is an instrument for x.
Which of the following statements is true?
A. The condition Cov(z,u) = 0 can be tested statistically.
B. The condition Cov(z,x) 
0 cannot be tested statistically.
C. The instrumental variables estimator is always biased if Cov(x,u) 
0.
D. The ordinary least squares estimator is unbiased if Cov(x,u) 
0 .