If a fair game is played many times the monetary losses or gains will:
a. approach zero.
b. be negative.
c. be positive.
d. result in an outcome that cannot be determined without more information.
a
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Economists who really do want to take discretion away from the Fed, by imposing rules on ________, face the problem of ________
A) policy instruments, the Fed requiring discretion to adhere to the rule B) policy instruments, slippages between instruments and target variables C) target variables, the Fed requiring discretion on how to achieve the rule D) target variables, slippages between instruments and target variables
As the economy goes through an expansion,
a. fluctuations in GDP become more severe b. unemployment finally stabilizes c. investment stabilizes d. the classical model becomes a better predictor e. unemployment falls.
A 10 percent increase in the price of sugar reduces sugar consumption by about 5 percent. The increase causes households to
a. spend more on sugar. b. spend less on sugar. c. spend the same on sugar. d. consume more goods like coffee and tea that are complements of sugar.
The __________ is the time immediately after a change in market price when sellers cannot respond by changing quantity supplied.
A. market period B. short-run C. long-run