The Method of Least Squares May Be Used to Estimate

question 12

True/False

The method of least squares may be used to estimate both linear and curvilinear trends.

---

Definitions:

Federal Budget Surpluses

Occurs when a government's revenue exceeds its expenditures during a given fiscal period.

Stabilize Economy

Efforts or policies aimed at maintaining economic balance by preventing extreme fluctuations in overall economic activity.

Reagan Tax Cut

Refers to the economic policies implemented during Ronald Reagan's presidency, predominantly significant reductions in income tax rates.

Aggregate Supply

The aggregate amount of products and services that companies within an economy intend to sell over a designated timeframe.