The most accurate quantitative time measure is:
a. Self-report or diary method
b. Recall method
c. Observation method
d. A combination of all of the above methods to allow for cross checks.
D
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Assume that the full-employment level of output is $1,000 and the price level associated with full-employment output is 100. Also assume that the economy's current level of output is $1,100 and, at the price level of 100, current aggregate demand is $1,200. If the government moves the economy back to the full-employment level of output by reducing government purchases by $50, then the expenditures multiplier equals
A. 4. B. 5. C. 2. D. 10.
The ultimatum game and the dictator game are used in economic experiments to test whether fairness is an important influence on consumer decision-making
Indicate whether the statement is true or false
What is the Fisher Effect? Provide an example
What will be an ideal response?
In the specific factors model, a 5% decrease in the price of food accompanied by a 5% decrease in the price of cloth will cause ________ in the welfare of labor, ________ in the welfare of the fixed factor in the production of food, and ________ in
the welfare of the fixed factor in the production of cloth. A) no change; no change; no change B) an increase; an increase; an increase C) a decrease; an increase; an increase D) an increase; a decrease; a decrease E) a decrease; a decrease; a decrease