If the misery index is 12 and the inflation rate is 4 percent, we can conclude
A. The AD curve must be shifting to the right.
B. The inflation rate will quickly rise by 8 percent.
C. Monetary policy is not succeeding at keeping inflation low.
D. The unemployment rate must be 8 percent.
Answer: D
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The FTC is
A) the act that prevents producers from driving out smaller competitors by means of selected discriminatory price cuts. B) the commission that investigates unfair competitive practices such as misleading advertising. C) an agency which has been set up to regulate the federal government. D) the agency set up to regulate hospitals.
Michael takes 10 minutes to iron a shirt and 20 minutes to type a paper. Aiden takes 10 minutes to iron a shirt and 30 minutes to type a paper. Which of the following statements is correct?
a. Aiden has a comparative advantage in ironing. b. Aiden has a comparative advantage in typing. c. Michael has a comparative advantage in ironing. d. Neither can gain from specialization and exchange.
If leakages are less than injections, ceteris paribus:
(a) National income will increase. (b) National income will decrease. (c) National income will stay in equilibrium. (d) None of the above.
What is the "price" commonly called in the labor market?