When the Bank of England's Mervyn King spoke of "inflation nutters," he was referring to:
A) a delicious cookie.
B) overly inflation-fearful ECB leaders.
C) insufficiently inflation-fearful ECB leaders.
D) overly inflation-fearful Bank of England leaders.
Ans: B) overly inflation-fearful ECB leaders.
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Relative to a world in which some people are motivated by nonmaterial incentives, if all people were motivated solely by financial incentives, then:
A. both business transactions and personal interactions would be different. B. transactions in the business world would be the same, but personal interactions would not. C. there would be no commitment problems. D. economic efficiency would be achieved more often.
One benefit of a negative income tax is that it would increase work incentives.
Answer the following statement true (T) or false (F)
. +21% ¸ +6% = +3.5. This coefficient indicates that each 1 percent increase in the price induces a ______ percent increase in the quantity supplied.
a. –35 b. –3.5 c. 35 d. 3.5
Distinguish between macroeconomics and microeconomics
What will be an ideal response?