If Jorge is temporarily absent from his regular job because of an industrial dispute, the Bureau of Labor Statistics will classify him as unemployed
Indicate whether the statement is true or false
False
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Suppose the money demand of individuals and firms depends on what they perceive to be the probabilities that the economy will expand or contract over the following six months
Suppose their money demand is given by the equation L = 0.5Y - 100i + 20z, where z is the probability that the economy is expanding six months in the future. If z = 1, the economy will certainly be in recovery, if z = 0, the economy will certainly be in recession, and for z between 0 and 1 there is some uncertainty about the future state of the economy. Use a classical (RBC) model of the economy. If the Fed moves the money supply to target the price level, how does the money supply relate to the expected future state of the economy? Is this an example of reverse causation?
Which of the following is an alternative to patents that still encourages research?
A) the government funding research by firms B) offering a prize for discovery C) government grants to universities D) All of the above.
A decrease in the wage rate causes the budget line to
a. become flatter. b. become steeper. c. shift upward. d. shift downward.
The firm in a perfectly competitive industry is a
A) price taker. B) price maker. C) price seeker. D) price dealer.