A billboard is an example of

When RBC economists compare the correlations in their models to the data, what are they looking at?

A) The degree to which variables lead output over the business cycle B) The strength of procyclicality of different variables C) The amount of random variation in economic variables D) The degree to which different economic variables move together

An economist argues that the states that have spent the most on higher education in the last 25 years have experienced the least economic growth. One might conclude that higher education:

A. is a nonexcludable service. B. does not have important negative externalities. C. has problems of adverse selection. D. does not have important positive externalities.