Tag: Economics – Others

10. Explain why an equal dollar increase in both government purchases and net taxes wouldincrease aggregate demand.

Economists began to lose confidence in the Phillips curve during the:
1930s.
1960s.
1970s.
1980s.

Suppose you are given the model: Yi=β0 -ui. Use OLS to find the estimator of β1. What is its variance and the SSR ?

Rent control is an example of
a. a price floor.
b. a price ceiling.
c. a subsidy for low-skilled workers.
d. a black market.

Price per package of notebook paper ($)
Quantity of packages supplied (millions) of notebook paper
0.10
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Question 32
Who was the author of The Wealth of Nations in which he stated that

In the perfect competition, the price can be influenced by the sellers hence called as price makers
True
False

kellongs sells cornflakes at R50 for a 1kg pack, what is the effect on supply and demand if the price of milk falls

when deciding whether to hire an additional worker, firms need only consider how the additional worker would affect

What does the exprossion Y-(C T) represent?
Public savings
Investments
Government savings
Gross domestic product (GDP)