Assume that the Fed knows a demand shock has occurred in the economy. It takes the Fed 2 months to adjust policy to the shock, and it takes the economy 14 months for the policy change to affect the economy
The 2 month time period refers to the ________, and the following 14 month time period refers to the ________. A) policy lag; implementation lag
B) recognition lag; implementation lag
C) implementation lag; impact lag
D) policy lag; recognition lag
C
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Answer the following statement(s) true (T) or false (F)
1. A Cournot equilibrium arises when one player announces his strategy before the other. 2. The Stackelberg equilibrium of a sequential game must also be a Nash equilibrium. 3. In a sequential game, guaranteed commitment to a strategy will make a player worse off. 4. A merger between Gateway, a manufacturer of computers, and Logitech, a manufacturer of components for computers, would be an example of horizontal integration. 5. The Sherman Act of 1890 and the Clayton Act of 1914 gave courts the power to prevent mergers that reduce competition and provided clear criteria to apply in determining when a merger would do so.
Refer to the scenario above. What will be the GDP per capita of country B at the beginning of year 2012?
A) $2,555.15 B) $28,82.85 C) $2,450.65 D) $2,646
Assuming a competitive world, does your country have an absolute advantage in making pizza? You can get your answer by
a. observing if your country makes more pizza than any other country b. calculating the costs of pizza ingredients in your country c. comparing pizza prices in other countries d. calculating the opportunity cost of a pizza in your country e. looking at your country's terms of trade
The simple circular flow model shows that workers, entrepreneurs, and the owners of land and capital offer their services through:
A. employment agencies. B. product markets. C. business firms. D. resource markets.