Systematic error is most clearly associated with
A. rational expectations.
B. adaptive expectations.
C. supply-side expectations.
D. monetary expectations.
B. adaptive expectations.
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The current chair of the Board of Governors of the Federal Reserve is
A) Janet Yellen. B) John Snow. C) Alan Greenspan. D) Henry Paulson.
The U.S. dollar exchange rate describes the
a. the deficit/surplus situation in the balance of payments. b. the price of a foreign currency in terms of dollars. c. the deficit/surplus situation in the merchandise trade balance. d. future changes in foreign balance of payments. e. none of the above.
The Medicare pay-as-you-go system is jeopardized by
a. an overly generous fee schedule that pays physicians more than private insurance for most procedures. b. the changing demographics of the U.S. population with an increasing percentage over the age of 65 c. a reliance on the premiums paid by the elderly themselves to fund a majority of the total cost of the system. d. allowing physicians to balance bill their patients. e. the rising costs of long-term care.
Marginal willingness to pay a. rises as greater quantities are consumed
b. falls as greater quantities are consumed. c. stays the same as greater quantities are consumed. d. none of the above