How does the break-even inflation rate differ from the expected inflation rate as measured in surveys?
A) They are very close to each other.
B) The break-even inflation rate varies less than the expected inflation rate from surveys.
C) The break-even inflation rate varies more than the expected inflation rate from surveys.
D) The break-even inflation rate is always several percentage points higher than the expected inflation rate from surveys.
C
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Once a monopoly has determined how much it produces, it will charge a price that
A) is determined by the intersection of the marginal cost and average total cost curves. B) minimizes marginal cost. C) is determined by its demand curve. D) is independent of the amount produced. E) is equal to its average total cost.
The degree of wage stickiness in the real world:
A. is controversial, even among economists. B. is agreed upon by economists, but not accepted by others, like policymakers. C. is agreed upon by economists as a concept, but controversial in how it's measured. D. has been estimated by economists.
China has invested heavily in turbine manufacturing and in 2009 had become the world's largest wind power market. Capital that provides services to the public, like energy derived from wind power, is known as
A. human capital. B. intangible capital. C. tangible capital. D. social capital.
If the producer is at combination B as shown in Table 3-2, the opportunity cost of increasing corn production by 1 unit is
A. 29 units of cotton. B. 5 units of cotton. C. 12 units of cotton. D. 4 units of cotton. E. 1 unit of cotton.