The natural rate hypothesis states that the economy will self-correct back to the natural rate of unemployment, so that a move along a short run Phillips curve will not be permanent
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following statements is true?
A) Arithmetic or geometric growth rates gives similar answers for long periods. B) Using either arithmetic or geometric average to compute average growth rates gives similar answers for short periods. C) Geometric average of growth rate ignores the exponential nature of growth. D) Arithmetic calculation of growth rate considers the exponential nature of growth.
Marginal revenue product is measured by:
a. MR × price. b. MR × MC. c. TR / MP. d. MP × price. e. TC / MP.
Governments can use public regulation to help solve information problems by:
A. making screening illegal. B. mandating participation in a market or program. C. mandating employers build a reputation before screening. D. All of these statements are true.
Which of the following expands the range of opportunities available to customers?
A) The bookstore that provides comfortable chairs and couches for book browsers B) The used car dealer who posts prices on the windshields of the cars C) The bank that advertises it will place ten dollars into any newly-opened savings account D) All of the above. E) None of the above.