According to Okun's law, an increase in which of the following is associated with an increase in unemployment?
A) inflation
B) output
C) expected inflation
D) autonomous expenditure
E) potential output
E
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Using the data in the above table, if the price of an hour of labor is $20 and the price of a unit of capital is $10, then the most economically efficient technique for producing 100 sweaters is
A) A. B) B. C) C. D) D.
Which of the following correctly identifies a difference between cross-sectional data and time series data?
A. Cross-sectional data is based on temporal ordering, whereas time series data is not. B. Time series data is based on temporal ordering, whereas cross-sectional data is not. C. Cross-sectional data consists of only qualitative variables, whereas time series data consists of only quantitative variables. D. Time series data consists of only qualitative variables, whereas cross-sectional data does not include qualitative variables.